1. Which variable did you plot on the x-axis, and which variable did you plot on the y-axis? Explain why you assigned the variab
les in that way.
2. Write the equation of the line of best fit using the slope-intercept formula $y = mx + b$. Show all your work, including the points used to determine the slope and how the equation was determined.
3. What does the slope of the line represent within the context of your graph? What does the y-intercept represent?
4. Test the residuals of two other points to determine how well the line of best fit models the data.
I've included a picture of my graph down below I just really need number 1 and 2 at the moment but any question answered through 1 and 4 would we very appreciated :) thank you very much :D I will be reporting answers that aren't correct, silly, or unhelpful because I just really need these answers and it only allows up to 2 people to answer.
2. Write the equation of the line of best fit using the slope-intercept formula $y = mx + b$. Show all your work, including the points used to determine the slope and how the equation was determined.
3. What does the slope of the line represent within the context of your graph? What does the y-intercept represent?
4. Test the residuals of two other points to determine how well the line of best fit models the data.
I've included a picture of my graph down below I just really need number 1 and 2 at the moment but any question answered through 1 and 4 would we very appreciated :) thank you very much :D I will be reporting answers that aren't correct, silly, or unhelpful because I just really need these answers and it only allows up to 2 people to answer.
1 answer:
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Answer:
The standard deviation for the sample mean distribution is
Step-by-step explanation:
The central limit theorem states that if you have a population with mean μ and standard deviation σ and take sufficiently large random samples from the population then the distribution of the sample means will be approximately normally distributed.
For the random samples we take from the population, we can compute the standard deviation of the sample means:
From the information given
The standard deviation σ = 136 dollars
The sample n = 45
Thus,
The standard deviation for the sample mean distribution is