(08.03)Consider the following set of equations:
2 answers:
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Given:
The data points are:
(1, 0), (2, 3), (3,1), (4,4), (5,5)
To find:
The equation of best fit line in the form of and then find the value of b.
Solution:
The general form of best fit line is:
...(i)
Where, m is the slope of best fit line and b is the y-intercept of the line.
Using the graphing calculator, we get the equation for the best fit line and the equation is
...(ii)
On comparing (i) and (ii), we get
Therefore, the value of b is equal to -0.7.
