Provide a detailed plan, including actual dollar amounts, for Xavier to wisely use the extra $400 per month from his raise. For
each part of the plan, briefly describe why you're making this choice.
1 answer:
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x: 500, 700, 750, 590 , 540, 650, 480
y: 7.00, 7.50 , 9.00, 6.5, 7.50 , 7.0, 4.50
We want to create a linear model like this :
Where
And:
With these we can find the sums:
And the slope would be:
Now we can find the means for x and y like this:
And we can find the intercept using this:
And the line would be:
Part b
The correlation coefficient is given by:
For our case we have this:
The determination coefficient is given by:
Part c
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