Question

A random sample of ten professional athletes produced the following data where x is the number of endorsements the player has and y is the amount of money made (in millions of dollars).
x y x y
0 2 5 11
3 8 4 9
2 6 3 8
1 3 0 3
6 14 5 10
Use regression to find the equation for the line of best fit. (Round your answers to three decimal places.)

ŷ = _________ + ________x

Answer 1

ŷ= 1.795x +2.195 is the equation for the line of best fit for the data

How to use regression to find the equation for the line of best fit?

Consider the table in the image attached:

∑x = 29,  ∑y = 74, ∑x²= 125, ∑xy = 288,  n = 10 (number data points)

The linear regression equation is of the form:

ŷ = ax + b

where a and b are the slope and y-intercept respectively

a = ( n∑xy -(∑x)(∑y) ) / ( n∑x² - (∑x)² )

a  = (10×288 - 29×74) / ( 10×125-29² )

  = 2880-2146 / 1250-841

  = 734/409

  = 1.795

x' =  ∑x/n

x' = 29/10 = 2.9

y' = ∑y/n

y' = 74/10 = 7.4

b = y' - ax'

b = 7.4 - 1.795×2.9

  = 7.4 - 5.2055

  = 2.195

ŷ = ax + b

ŷ= 1.795x +2.195

Therefore,  the equation for the line of best fit for the data is ŷ= 1.795x +2.195

Learn more about regression equation on:

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