Math Problem Statement
Given below is the per capita income, x, in dollars for certain countries and the percent of the labor force that works in service occupations, y, in a certain year. Use Rguroo to find the best fit linear regression equation. Round the slope and intercept to three decimal places.
x y
681 30
1035 25
529 34
810 40
344 32
977 32
177 9
839 29
1049 37
290 21
324 20
1242 34
238 23
1105 40
1005 42
1536 45
1361 33
1013 36
1644 33
504 28
Provide your answer below:
y = x +
Solution
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Math Problem Analysis
Mathematical Concepts
Linear Regression
Statistics
Algebra
Formulas
m = (n(Σxy) - (Σx)(Σy)) / (n(Σx^2) - (Σx)^2)
b = ((Σy)(Σx^2) - (Σx)(Σxy)) / (n(Σx^2) - (Σx)^2)
Theorems
Least Squares Method
Suitable Grade Level
Grades 11-12
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