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Different hotels in a certain area are randomly selected, and their ratings and prices were obtained online. Using technology, with x representing the ratings and y representing price, we find that the regression equation has a slope of 130 and a y-intercept of -350.

Required:
a. What is the equation of the regression line?
b. What does the symbol y represent?

Respuesta :

MrRoyal

Answer:

[tex](a)\ y = 130x -350[/tex]

(b) y represents the price of the hotel

Step-by-step explanation:

Given

[tex]b = 130[/tex] --- slope

[tex]a = -350[/tex] --- y intercept

Solving (a): The equation of the regression line.

The general form of the equation of the regression line is:

[tex]y = bx + a\\[/tex]

Substitute values for b and a;

[tex]y = 130x + (-350)[/tex]

Remove bracket

[tex]y = 130x -350[/tex]

Solving (b): What y represents

From the question, we understand that: y stands for price

Hence, the symbol y represents the price of a hotel. The value of y  depends on x (the ratings)

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