Question: The scatter plot below shows data for the value of a new mutual fund (y), in thousands of dollars, in a given year, where x

The scatter plot below shows data for the value of a new mutual fund (y), in thousands of dollars, in a given year, where x is the year. The least squares regression line is given by y=28,450344x. A downward sloping line and 5 points are graphed on a rectangular x y coordinate system. The horizontal x axis represents the Year and ranges from 2002 to 2010, in increments of 2. The vertical y axis represents the Value of a Mutual Fund, in thousands of dollars, and ranges from 20000 to 30000, in increments of 2000. The coordinates of the points are as follows: (2003, 28500), (2005, 25000), (2007, 27500), (2009, 27000) and (2010, 25000). The downward sloping line begins at the graphed point (2003, 28500), goes down to the right, and ends at the graphed point (2010, 25000). All values are estimated. Interpret the slope of the least squares regression line

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 Mathematics Questions!