Isabella wants the distribution of money spent on advertising to match the distribution of profit gained from each product. If
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The equation of the linear regression is
To determine the line of best fit, we make use of a graphing tool
See attachment for the graph of the line of best fit
<h3>The equation</h3>From the graphing tool, we have the following calculation summary
- Sum of X = 440
- Sum of Y = 3601.5
- Mean X = 44
- Mean Y = 360.15
- Sum of squares (SSX) = 1440
- Sum of products (SP) = 5157
The regression Equation is then represented as:
Where:
and
Also, we have:
So, the linear regression equation is:
Read more about linear regression at:
