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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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