Use the pizza cost and the subway fare in the table below to find the regression equation,
Question:
Use the pizza cost and the subway fare in the table below to find the regression equation, letting pizza cost be the predictor (x) variable. (Pizza cost is in dollars per slice, subway fare and CPI are in dollars.) What is the best predicted subway fare when pizza costs $4.03 per slice?
| Year | 1960 | 1973 | 1986 | 1995 | 2002 | 2003 | 2009 | 2013 | 2015 | 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pizza Cost | 0.1500.150 | 0.3500.350 | 0.9980.998 | 1.2471.247 | 1.7471.747 | 2.0012.001 | 2.2482.248 | 2.3022.302 | 2.7542.754 | 2.9982.998 | |
| Subway Fare | 0.1480.148 | 0.3510.351 | 0.9980.998 | 1.3471.347 | 1.5011.501 | 1.9971.997 | 2.2472.247 | 2.5492.549 | 2.7482.748 | 2.7522.752 | |
| CPI | 29.6 | 44.4 | 109.6 | 152.4 | 180.0 | 184.0 | 214.5 | 233.0 | 237.0 | 252.2 |
The regression equation is
y=__________ + (_________)x
(Round the y-intercept to four decimal places as needed. Round the slope to three decimal places as needed.)
Expert Answer:
To find the regression equation we need to calculate the slope 1 and the yintercept 0 of the re... View the full answer
