If $\sum x _ { i } = 7587$ , $\sum y _ { i } = 7106.4$ , n = 12, and the slope equals 0.5, then the y-intercept of the least squares line is b₀ = 276.08.

Question

Quizplus · Accepted Answer

The y-intercept of the least squares line is calculated as b0 = ȳ - b1x̄, where ȳ is the mean of the y-values, x̄ is the mean of the x-values, and b1 is the slope. In this case, ȳ = 7106.4/12 = 592.2, x̄ = 7587/12 = 632.25, and b1 = 0.5. Therefore, b0 = 592.2 - 0.5(632.25) = 276.08.

If ∑xi=7587\sum x _ { i } = 7587∑xi​=7587 ∑yi=7106.4\sum y _ { i } = 7106.4∑yi​=7106.4

If $\sum x _ { i } = 7587$ $\sum y _ { i } = 7106.4$