Math Problem Statement
Problem 3-26 (Algo) The following data were collected during a study of consumer buying patterns:
Observation x y 1 18 69 2 26 81 3 41 85 4 35 77 5 56 95 6 46 93 7 33 86 8 19 81 9 14 75 10 10 76 11 25 83 12 21 86 13 29 90 Click here for the Excel Data File
Obtain a linear regression line for the data.
Note: Round your intermediate calculations and final answers to 3 decimal places.
What percentage of the variation is explained by the regression line?
Note: Do not round intermediate calculations. Round your answer to the nearest whole percent.
Use the equation determined in part b to predict the expected value of y for x = 44.
Note: Round your intermediate calculations and final answers to 3 decimal places.
Solution
The linear regression equation for the data is:
a) The percentage of the variation explained by the regression line is:
b) Using the equation to predict when :
Would you like more details or have any questions?
Here are 5 related questions to expand on this:
- How is the slope of a regression line interpreted?
- What does the R-squared value represent in a linear regression model?
- How would you calculate the residuals for this regression model?
- How can outliers affect the regression line?
- What is the significance of the intercept in a regression model?
Tip: Always check the assumptions of linear regression (linearity, homoscedasticity, normality of residuals, etc.) before relying on the model for predictions.
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Math Problem Analysis
Mathematical Concepts
Linear Regression
Statistics
Formulas
y = mx + b (Linear Regression Formula)
R-squared formula
Theorems
Least Squares Method
Suitable Grade Level
College/University Level (Statistics, Business Analytics)
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