Question: A.J. used linear regression to help him understand his monthly telephone bill. The line of best fit was y =23.65 + 1.28x where x is

A.J. used linear regression to help him understand his monthly telephone bill. The line of best fit was yˆ =23.65 + 1.28x where x is the number of long-distance calls made during a month, and y is the total telephone cost for a month. In terms of number of long-distance calls and cost:
a. Explain the meaning of the y-intercept, 23.65.
b. Explain the meaning of the slope, 1.28.

Step by Step Solution

3.35 Rating (176 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a The yintercept of 2365 is the amount of the total monthly telephone cost when ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

519-M-S-S-I (2115).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!