The regression analysis evaluates the amount of relationship that exists
between the variables in the analysis.
- The regression equation is;
- The prediction is worthwhile because it gives an idea of the observed Crash Fatality Rate and it is therefore approximately correct.
Reasons:
First part;
The given data is presented as follows;
The least squares regression equation is;
Where;
= The mean crash fatality = 15.52
= The mean lemon import = 373.6
Therefore;
c = - b·
= 15.52 - (-0.00255)×373.6 = 16.47268
Therefore;
- The regression equation is
Second part;
When the imports is 425 metric tons of lemon, we have;
= -0.00255 × 425 + 16.47268 = 15.38893 ≈ 15.4
Therefore;
When the import is 425 metric tons, the Crash Fatality Rate ≈ 15.4
Given that the predicted value is between the values for 268 and 535, we
have that the prediction is approximately correct or worthwhile
<u>The prediction is worthwhile</u>
Learn more about regression equation here: