Determining fitting of least-squares regression line, Basic Statistics

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Determining fitting of least-squares regression line

The following data represent x = boat sales and y = boat trailer sales from 1995 through 2000.

Boat sales	boat trailer sales
year	thousands	thousands
1995	649	207
1996	619	194
1997	596	181
1998	576	174
1999	585	168
2000	574	159

a. Find out the least-squares regression line and interpret its slope.

b. Estimate, for the year throughout which 500,000 boats are sold, the number of boat trailers which would be sold.

What reasons may describe why the number of boat trailers sold per year is less than number of boats sold per year?

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Basic Statistics: Determining fitting of least-squares regression line

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Basic Statistics: Determining fitting of least-squares regression line

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Recent Questions Asked Basic Statistics

Q : How much of the variability has been explained

Q : Fitting of least-squares regression line

Q : Find the required rate of return

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Basic Statistics: Determining fitting of least-squares regression line

Reference No:- TGS021055

Recent Questions Asked Basic Statistics

Q : How much of the variability has been explained

Q : Fitting of least-squares regression line

Q : Find the required rate of return

Q : How the regression analysis yields the f-statistic

Q : Determining fitting of least-squares regression line

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Q : Indicates the value of y when the value of x is zero

Q : Estimating chi-square for goodness of fit test

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