Question: A scatter diagram includes the data points (x 5 3, y 5 8), (x 5 5, y 5 18), (x 5 7, y 5 30),

A scatter diagram includes the data points (x 5 3, y 5 8), (x 5 5, y 5 18), (x 5 7, y 5 30), and

(x 5 9, y 5 32). Two regression lines are proposed:

(1) y ˆ 5 5 1 3x, and (2) y ˆ 5 22 1 4x. Using the leastsquares criterion, which of these regression lines is the better fit to the data? Why?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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

Students Have Also Explored These Related Business Statistics A First Course Questions!