Question

Question 2 - of 24 Step 1 of 6 02:46:10 The table below gives the list price and the number of bids received for five randomly selected items sold through online auctions. Using this data. consider the equation of the regression line, y = bo + bx, for predicting the number of bids an item will receive based on the list price. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant Price in Dollars 23 25 28 43 44 Number of Bids 2 4 6 8 9 Table < Copy Data Prev Step 1 of 6: Find the estimated slope. Round your answer to three decimal places Nex AnswerHow to Enter 2 Points Keypad

Answer 1

	x	y	(x-xbar)^2	(y-ybar)^2	(x-xbar)*(y-ybar)
	23	2	92.16	14.44	36.48
	25	4	57.76	3.24	13.68
	28	6	21.16	0.04	-0.92
	43	8	108.16	4.84	22.88
	44	9	129.96	10.24	36.48
sum	163	29	409.2	32.8	108.6
mean	32.6	5.8	sxx	syy	sxy
	slope=b1=sxy/sxx=	0.265395894
	intercept=b0=ybar-(slope*xbar)=	-2.851906158

#Step1:

Slope=0.265

#the regression equation =b0+b1*x

Y

= -2.852+0.265 *x

Y