A sum of money earns the interest ar the rate of Rs. 5 per Rs.25 in a year. how many years would it trible itself?
1 answer:
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The regression equation of Y on X is given by the following formula:
Where byx is given by the formula:
Where N is the number of values (N=8). We need to find the sum of X values, the sum of Y values, the average of X, the average of Y, the sum of X*Y and the sum of X^2.
The table of values is:
The values we need to know are on the following table:
By replacing the known values in the formula we obtain:
Now, the average of X and Y is the sum divided by N, then:
Replace these values in the formula and find the regression equation as follows:
The answer is a) y=4.6x+28.26
