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Determining the Simple Linear Regression Equation

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Fitting a straight line to a set of data yields the following regression equation.

Ŷi = 2 + 5Xi

a. Interpret the meaning of the Y intercept b0.

b. Interpret the meaning of the slope b1.

c. Predict the average value of Y for X = 3.

If the average value of X range from 2 to 25, should you use this model to predict the average value of Y when X equals (Please explain why or why not on each?)

d. 3?

e. -3?

f. 0?

g. 24?

h 26?

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Solution Summary

Fitting a straight line to a set of data yields the following regression equation.

Solution Preview

a. In this particular context, the y-intercept (y = 2, when x = 0) refers to the starting value. The y-intercept would be the minimum value of the dependent variable ...

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