A well-educated lumberjack decides to use linear regression to predict the demand for firewood based on the ambient temperature. He has collected data on firewood sales and temperature for the last several days and has performed some preliminary calculations as shown in the table.

-What is his regression equation based on the data?
A)Ricks = 50.6 - 0.93 x Temp
B)Temp = 53.3 - 1.0 x Ricks
C)Ricks = 0.93 - 50.6 x Temp
D)Temp = 1.0 - 53.3 x Ricks
E)Need more information to answer the question

Question

A well-educated lumberjack decides to use linear regression to predict the demand for firewood based on the ambient temperature. He has collected data on firewood sales and temperature for the last several days and has performed some preliminary calculations as shown in the table.
 
-What is his regression equation based on the data?
A)Ricks = 50.6 - 0.93 x Temp 
B)Temp = 53.3 - 1.0 x Ricks 
C)Ricks = 0.93 - 50.6 x Temp 
D)Temp = 1.0 - 53.3 x Ricks 
E)Need more information to answer the question

Quizplus · Accepted Answer

The regression equation is in the form of y = mx + b, where y is the dependent variable (Ricks), x is the independent variable (Temp), m is the slope (-0.93), and b is the y-intercept (50.6).

A Well-Educated Lumberjack Decides to Use Linear Regression to Predict