Math Problem Statement
Capacity and price data for a collection of USB flash drives is displayed in the table below.
Capacity (Gb)Price ($)
8
9.99
16
12.99
32
16.99
64
27.99
128
48.99
256
89.99
Use linear regression to find the best-fit line for the data, with capacity as the independent variable x and price as the dependent variable y.
y^=
Solution
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Math Problem Analysis
Mathematical Concepts
Linear Regression
Algebra
Statistics
Formulas
Best-fit line formula: y = mx + b
Slope formula: m = [n(Σxy) - (Σx)(Σy)] / [n(Σx²) - (Σx)²]
Intercept formula: b = (Σy - m(Σx)) / n
Theorems
Least Squares Method
Suitable Grade Level
Grades 10-12
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