Write the estimated regression equation using the least squares estimates for b0b0 and b1b1
Write the estimated regression equation using the least squares estimates for b0b0 and b1b1
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter3: Straight Lines And Linear Functions
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Problem 15CR: Life Expectancy The following table shows the average life expectancy, in years, of a child born in...
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Question
Consider the following monthly revenue data for an up-and-coming cyber security company.
Sales Data
The summary output from aregression analysis of the data is also provided.
Regression Statistics
ANOVA
Sales Data
| Month | Revenue (Thousands of Dollars) | Month | Revenue (Thousands of Dollars) |
|---|---|---|---|
| 11 | 326326 | 1010 | 816816 |
| 22 | 552552 | 1111 | 827827 |
| 33 | 535535 | 1212 | 846846 |
| 44 | 571571 | 1313 | 850850 |
| 55 | 636636 | 1414 | 849849 |
| 66 | 685685 | 1515 | 854854 |
| 77 | 700700 | 1616 | 867867 |
| 88 | 705705 | 1717 | 875875 |
| 99 | 787787 | 1818 | 881881 |
The summary output from a
Regression Statistics
| Multiple R | 0.9183542530.918354253 |
|---|---|
| R Square | 0.8433745340.843374534 |
| Adjusted R Square | 0.8335854420.833585442 |
| Standard Error | 63.399295263.3992952 |
| Observations | 1818 |
ANOVA
| dfdf | SSSS | MSMS | FF | |
|---|---|---|---|---|
| Regression | 11 | 346,295.581011346,295.581011 | 346,295.581011346,295.581011 | 86.1545245186.15452451 |
| Residual | 1616 | 64,311.53010064,311.530100 | 4019.4706314019.470631 | |
| Total | 1717 | 410,607.111111410,607.111111 |
| Coefficients | Standard Error | tt Stat | P-value | |
|---|---|---|---|---|
| Intercept | 477.24183007477.24183007 | 31.1773771431.17737714 | 15.3073117115.30731171 | 5.63495E-115.63495E-11 |
| Month | 26.7347781226.73477812 | 2.8802987722.880298772 | 9.281946169.28194616 | 7.66663E-087.66663E-08 |
Step 1 of 3 :
Write the estimated regression equation using the least squares estimates for b0b0 and b1b1. Round to four decimal places, if necessary.
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