Question
In: Statistics and Probability
The convenience of shopping on the Web combined with high-speed broadband access services is spurring online...
The convenience of shopping on the Web combined with high-speed broadband access services is spurring online spending. The projected online spending per buyer (in dollars) from 2002 (x = 0) through 2008 (x = 6) is given in the following table.
| Year, x | 0 | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|---|
| Spending, y | 505 | 546 | 593 | 639 | 680 | 721 | 762 |
(a) Find an equation of the least-squares line for these data.
(Round all coefficients to one decimal places.)
y =
(b) Use the result of part (a) to estimate the rate of change of
spending per buyer between 2002 and 2008. (Round your answer to one
decimal place.)
$ ____ per buyer per year
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orchestra answered 1 year agoRelated Solutions
The convenience of shopping on the Web combined with high-speed broadband access services is spurring online...
The convenience of shopping on the Web combined with high-speed
broadband access services is spurring online spending. The
projected online spending per buyer (in dollars) from 2002
(x = 0) through 2008 (x = 6) is given in the
following table.
Year,
x
0
1
2
3
4
5
6
Spending,
y
505
554
601
647
690
737
784
(a) Find an equation of the least-squares line for these data.
(Round all coefficients to one decimal places.)
y =
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