Question

Given below are five observations collected in a regression study on two variables x (price) and y (Quantity sold). x y 10 7 20 5 30 4 40 2 50 1

(a) Write the regression model and regression equation (specify the dependent and independent variable).

Answer 1

In a regression study, the dependent variable is y (Quantity sold) and the independent variable is x (price). The regression equation can be calculated using the method of least-squares regression.

Step-by-step explanation:

In a regression study on two variables x (price) and y (Quantity sold), the dependent variable is y (Quantity sold) and the independent variable is x (price).

The regression model equation can be written as y = a + bx, where y is the quantity sold and x is the price. To calculate the regression equation, we need to find the values of a and b using the given observations.

We can use the method of least-squares regression to calculate the regression equation. By using the given observations, we can find the values of a and b, and then substitute them into the equation to get the regression equation.