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Chapter 12: Q.21 (page 716)

Use the following information to answer the next five exercises. A random sample of ten professional athletes produced the following data where xis the number of endorsements the player has and is the amount of money made (in millions of dollars)

Use regression to find the equation for the line of best fit.

Short Answer

Expert verified

The equation for the line of best fit isy=2.23+1.98x

Step by step solution

01

Step-1 Given Information

Given in the question that, a random sample of ten professional athletes produced the following data where xis the number of endorsements the player has and yis the amount of money made.

02

Explanation 

To find the regression line in Excel, follow these steps:

Fill in the blanks in Excel as indicated below:


AB
1
x

y
202
338
427
513
6513
7512
849
939
1003
11410

Click on data →Data Analysis→Regression.

Enter the input and output as shown below:

Click on OK. The output is:

03

Final Answer 

Therefore, the linear regression equation is:y=2.23+1.98xy=2.23+1.98x

Amount of money made =2.23+1.98×number of endorsements

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Most popular questions from this chapter

The average number of people in a family that attended college for various years is given in Table 12.29.

a. Using “year” as the independent variable and “Number of Family Members Attending College” as the dependent variable, draw a scatter plot of the data.

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