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the table shows the price x (in dollars) of a product at several different stores and the profits y (in dollars) generated by seeing the product. use a graphic calculator to write a function that models the data. Round each value in your function to the nearest hundredth. The equation is y=___​

The Table Shows The Price X In Dollars Of A Product At Several Different Stores And The Profits Y In Dollars Generated By Seeing The Product Use A Graphic Calcu class=

Sagot :

Regression equations are used to represent the relationship between the x and y variables.

The regression equation is [tex]\mathbf{y =-0.39X +467.84}[/tex]

Using a graphing calculator, we have the following parameters

  • Sum of x: [tex]\mathbf{\sum x = 269}[/tex]
  • Sum of y: [tex]\mathbf{\sum y = 3170}[/tex]
  • Mean of x: [tex]\mathbf{\bar x = 38.4286}[/tex]
  • Mean of y: [tex]\mathbf{\bar y = 452.8571}[/tex]
  • Sum of squares: [tex]\mathbf{SS_x = 1679.7143}[/tex]
  • Sum of products: [tex]\mathbf{SP = -648.5714}[/tex]

The regression equation is represented as:

[tex]\mathbf{y =bX +a}[/tex]

Where:

[tex]\mathbf{b = \frac{SP}{SS_x}}[/tex] and [tex]\mathbf{a = \bar y-b \times \bar x}[/tex]

So, we have:

[tex]\mathbf{b = \frac{-648.5714}{1679.7143}}[/tex]

[tex]\mathbf{b = -0.39}[/tex]

Also, we have:

[tex]\mathbf{a = \bar y-b \times \bar x}[/tex]

This gives:

[tex]\mathbf{a = 452.8571 - (-0.39 \times 38.4286) }[/tex]

[tex]\mathbf{a = 467.84}[/tex]

Substitute values for (b) and (a) in [tex]\mathbf{y =bX +a}[/tex]

[tex]\mathbf{y =-0.39X +467.84}[/tex]

Hence, the regression equation is [tex]\mathbf{y =-0.39X +467.84}[/tex]

See attachment for the scatter plot

Read more about regression equations at:

https://brainly.com/question/7656407

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