Identify the components of simple linear regression models and discuss their applications Use the data given below to answer the following question(s).
Following is an extract from the database of a construction company. The table shows the height of walls in feet and the cost of raising them. The estimated simple linear regression equation is given as Ŷ = b0 + b1X. (Hint: Use Excel functions). $$\begin{array} { | l | l | }
\hline\begin{array} { l }
\text { Height } \
\text { (ft) }
\end{array} & \text { Cost (\$) } \
\hline 4 & 670 \
\hline 3 & 430 \
\hline 7 & 810 \
\hline 9 & 1100 \
\hline 6 & 790 \
\hline 8 & 880 \
\hline 5 & 760 \
\hline 11 & 1200 \
\hline
\end{array}$$
-What is the estimated cost of raising a 10-inch wall?
A) 1505.786
B) 1103.578
C) 968.6109
D) 1123.008

Question

Identify the components of simple linear regression models and discuss their applications Use the data given below to answer the following question(s).
Following is an extract from the database of a construction company. The table shows the height of walls in feet and the cost of raising them. The estimated simple linear regression equation is given as Ŷ = b0 + b1X. (Hint: Use Excel functions). $$\begin{array} { | l | l | } 
\hline\begin{array} { l } 
\text { Height } \
\text { (ft) }
\end{array} & \text { Cost (\$) } \
\hline 4 & 670 \
\hline 3 & 430 \
\hline 7 & 810 \
\hline 9 & 1100 \
\hline 6 & 790 \
\hline 8 & 880 \
\hline 5 & 760 \
\hline 11 & 1200 \
\hline
\end{array}$$
-What is the estimated cost of raising a 10-inch wall?
A) 1505.786
B) 1103.578
C) 968.6109
D) 1123.008

Quizplus · Accepted Answer

The Answer is D

Identify the Components of Simple Linear Regression Models and Discuss