You want to buy an item that costs $100. Which of these is the most cost-effective choice for buying the item?
2 answers:
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ANSWER:
[a] A linear regression line has an equation of the form Y = a + bX, where X is the explanatory variable and Y is the dependent variable. The slope of the line is b, and a is the intercept (the value of y when x = 0).
[b] In the equation of a straight line (when the equation is written as “y = mx + b”), the slope is the number “m” that is multiplied on the x, and “b” is the y-intercept (that is, the point where the line crosses the vertical y-axis). This useful form of the line equation is sensibly named the “Slope-intercepts form”.
NOTE: See picture attached.
