Mindy makes an annual salary of $24,590. What is the maximum monthly rent she could afford to pay?
2 answers:
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Answer:
a)
b)
c)
Step-by-step explanation:
Data given
x: 500, 700, 750, 590 , 540, 650, 480
y: 7.00, 7.50 , 9.00, 6.5, 7.50 , 7.0, 4.50
Part a
We want to create a linear model like this :
Wehre
And:
With these we can find the sums:
And the slope would be:
Nowe 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:
n=7
The determination coefficient is given by:
Part c