Global Bikes Inc. (a bicylce manufacturing firm) collected the following data during a study of consumer buying patterns. Observation x y Observation 1 15 70 2 3 28 79 38 35 49 42 30 89 86 97 97 82 9 10 11 0.721 12 13 a. Create a linear regression line (equation) for the data.(Round your Intermediate calculations and final answers to 3 decimal places.) x y 14 82 16 70 14 68 24 84 21 83 29 91 63.229 X b. Use the equation determined in part b to predict the expected value of y for x = 49. (Round your Intermediate calculations and final answers to 3 decimal places.)

Global Bikes Inc. (a bicylce manufacturing firm) collected the following data during a study of consumer buying patterns. Observation x y Observation 1 15 70 2 3 28 79 38 35 49 42 30 89 86 97 97 82 9 10 11 0.721 12 13 a. Create a linear regression line (equation) for the data.(Round your Intermediate calculations and final answers to 3 decimal places.) x y 14 82 16 70 14 68 24 84 21 83 29 91 63.229 X b. Use the equation determined in part b to predict the expected value of y for x = 49. (Round your Intermediate calculations and final answers to 3 decimal places.)

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.4: Multiple Regression Models

Problem 14P: An antique collector believes that the price received for a particular item increases with its age...

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