A sample of ten economics books shows the following relationship between price a

Question

A sample of ten economics books shows the following relationship between price and length.

a.) Identify the dependent variable, Y, and independent variable, X.

b.) Compute the simple linear regression.

c.) Interpret the "slope" coefficient of the regression line in the context of this problem.

d.) Construct a scatter plot of the data and plot the least-square line also.
e.) Predict the price of an economic textbook of 575 pages.

f.) Compute the residual sum of squares and standard error of estimate.

Price Length (pages) 16 520 20 680 21 740 9 200 10 400 22 800 20 750 15 500 10 300 10 350

Explanation / Answer

A sample of ten economics books shows the following relationship between price a

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