Question

Given a collection of paired sample​ data, the​ ____________________ ModifyingAbove y with caretyequals=b0plus+b1x algebraically describes the relationship between the two​ variables, x and y.

Answer 1

Answer:

y, x are variables

b₀ and b₁ are constants

Step-by-step explanation:

If y=b₀+b₁x where x and y are variables.

The variable y is the sum of a constant b₀ and varies directly with variable x where b₁ is the constant of proportionality of x with y.

The higher the value of x, the higher the value of y.

A typical example of this is applied in the case of a Sales Person whose take home is dependent on a base Salary and the Monthly Volume of Sales. The base salary is the constant b₀ and the Monthly volume of sales is x where b₁ will be the rate of commission on sales.