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 | 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 =
(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
Solutions
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
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 =
...
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