Using the bill / tip data, find the best predicted tip amount for a dinner bill of
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Using the bill / tip data, find the best predicted tip amount for a dinner bill of $100. What tipping rule does the regression equation suggest?
In each case, find the regression equation, letting the first variable be the predictor (x) variable. Find the indicated predicted value by following the prediction procedure summarized in Figure 10-5 on page 493.
Figure 10-5
Transcribed Image Text:
50.68 Bill (dollars) Tip (dollars) 33.46 87.92 98.84 63.60 107.34 5.50 5.00 8.08 17.00 12.00 16.00 Strategy for Predicting Values of y Is the regression equation a good model? The regression line graphed in the scatterplot shows that the line fits the points well. r indicates that there is a linear correlation. The prediction is not much beyond the scope of the available sample data. Yes. The regression No. The regression equation is not a good model. equation is a good model. Substitute the given v into the regression equation alue of X Regardless of the value of x, the best predicted value of y is the value of y (the mean of the y values)
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y 0347 0149x r 0828 Pvalue 0042 With a significant linear correlation the best predicted ...View the full answer
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Related Book For
Mathematical Interest Theory
ISBN: 9781470465681
3rd Edition
Authors: Leslie Jane, James Daniel, Federer Vaaler
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