Following is an extract from the database of a construction company. The table shows the height...

Following is an extract from the database of a construction company. The table shows the height of walls in feet and the cost of raising them. The estimated simple linear regression equation is given as Ŷ = b0 + b1X. (Hint: Use Excel functions).

Height (ft)	Cost ($)
4	670
3	430
7	810
9	1100
6	790
8	880
5	760
11	1200

1) What is the value of the coefficient b1?

A) 254.8371

B) 0.010697

C) -2.14625

D) 86.81704

2) What is the estimated cost of raising a 10 foot wall?

A) 1123.008

B) 1505.786

C) 1103.578

D) 968.6109

Expert Solution

orchestra answered 3 years ago

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