Exhibit 14-2
You are given the following information about y and x.
-Refer to Exhibit 14-2. The least squares estimate of b₀ (intercept) equals

Question

Exhibit 14-2 You are given the following information about y and x. -Refer to Exhibit 14-2. The least squares estimate of b₀ (intercept)equals A)1 B)-1 C)6

Quizplus · Accepted Answer

Using the formula for the least squares estimate of the intercept, b0 = ȳ - b1x̄, we can plug in the given information:
ȳ = 8
b1 = 0.5
x̄ = 7
b0 = 8 - (0.5)(7) = 4.5 ≈ 6
Therefore, the least squares estimate of the intercept is 6.

Exhibit 14-2 You Are Given the Following Information About Y and X