Question

I really need help with this -Question 7. Write the equation of the least squares regression line. Define all variables.-Question 8. Identify and interpret the intercept for the least-squares regression line.-question 9. Identify and interpret the slope in context.- Question 10. Identify and interpret the coefficient of determination, r^2.

Answer 1

Question 7. The least squares regression line is

`y=135.8x+85.36,`

where x represents the customers in line and y is the time.

The coefficients can be obtained from the table, in the column Coef

Question 8. The intercept is the constant in the regression line, that is 85.36.

Question 9. The slope is 135.8, and it can be interpreted as: for each new customer in line, it takes 135.8 seconds more to finish with the checkout.

Question 10. The coefficient of determination is the value in R-Sq, that is, 65.6%, and it represents the percentage of time that can be predicted using the number of customers in line. In other words, it says that only 65.6% of the data fit in our regression model.