Let x be the number of pages in a statistics text book and y be the cost of the book (in dollars.) Suppose that x and y are related according to the simple linear regression model with β = slope of the population regression line = 0.075 α = y intercept of population regression line = 25.0
a) What is the equation of the population regression line?
b) On the graph below, sketch the population regression line using the information above. Be sure to label and scale your axes correctly.
c) For a statistics book of 900 pages, what is the predicted cost in dollars?
d) What is the average change in price that is associated with a one-page increase in size of a statistics book?
e) What is the average change in price that is associated with a 20-page increase in size of a statistics book?

Question

Let x be the number of pages in a statistics text book and y be the cost of the book (in dollars.) Suppose that x and y are related according to the simple linear regression model with β = slope of the population regression line = 0.075 α = y intercept of population regression line = 25.0 ​ 
a) What is the equation of the population regression line? 
b) On the graph below, sketch the population regression line using the information above. Be sure to label and scale your axes correctly.  
c) For a statistics book of 900 pages, what is the predicted cost in dollars? 
d) What is the average change in price that is associated with a one-page increase in size of a statistics book? 
e) What is the average change in price that is associated with a 20-page increase in size of a statistics book?

Quizplus · Accepted Answer

The Answer of Let x be the number of pages in a statistics text book and y be the cost of the book (in dollars.) Suppose that x and y are related according to the simple linear regression model with β = slope of the population regression line = 0.075 α = y intercept of population regression line = 25.0 ​ 
a) What is the equation of the population regression line? 
b) On the graph below, sketch the population regression line using the information above. Be sure to label and scale your axes correctly.  
c) For a statistics book of 900 pages, what is the predicted cost in dollars? 
d) What is the average change in price that is associated with a one-page increase in size of a statistics book? 
e) What is the average change in price that is associated with a 20-page increase in size of a statistics book?

Let X Be the Number of Pages in a Statistics