Question

PLEASE HELP

Based on data taken from airline fares and distances flown, it is determined that the equation of the least-squares regression line is ŷ = 102.50 + 0.65x, where ŷ is the predicted fare and x is the distance, in miles. One of the flights was 500 miles and its residual was 115.00.


What was the fare for this flight?


102.50

312.50

427.50

542.50

Answer 1

Don't know why everyone downvoted the first answer. Maybe you guys suck at clicking. It's correct.

Your answer is 542.50 (D)

102.50 + 65(500) = 427.5

427.5 + 115 = 542.50

You add the residue.

ED2021

Answer 2

542.50

Explanation:

Given:

Least square regression equation :

y = 102.50 + 0.65x + residual

y = predicted fare

x = distance in miles

Intercept = 102.50

Slope = 0.65

Distance in miles, x = 500 miles

y = 102.50 + 0.65(500) + 115

y = 102.50 + 325 + 115

y = 427.5 + 115

y = 542.50