Question: The equation for a straight line (deterministic model) is y = b0 + b1x LO9 If the line passes through the point 1 -5, 12,

The equation for a straight line (deterministic model) is y = b0 + b1x LO9 If the line passes through the point 1 -5, 12, then x = -5, y = 1 must satisfy the equation; that is, 1 = b0 + b11 -52 Similarly, if the line passes through the point (8, 12), then x = 8, y = 12 must satisfy the equation; that is, 12 = b0 + b1182 Use these two equations to solve for b0 and b1; then find the equation of the line that passes through the points 1 -5, 12 and (8, 12).

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 Questions!