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Magazine 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 is 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
The equation for the line of best fit is
Step by step solution
Step-1 Given Information
Given in the question that, a random sample of ten professional athletes produced the following data where is the number of endorsements the player has and is the amount of money made.
Explanation
To find the regression line in Excel, follow these steps:
Fill in the blanks in Excel as indicated below:
| A | B | |
| 1 | ||
| 2 | 0 | 2 |
| 3 | 3 | 8 |
| 4 | 2 | 7 |
| 5 | 1 | 3 |
| 6 | 5 | 13 |
| 7 | 5 | 12 |
| 8 | 4 | 9 |
| 9 | 3 | 9 |
| 10 | 0 | 3 |
| 11 | 4 | 10 |
Click on data Data AnalysisRegression.
Enter the input and output as shown below:
Click on OK. The output is:
Final Answer
Therefore, the linear regression equation is:
Amount of money made number of endorsements
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