FORESTRY
AGRICULTURAL STATISTICS AND ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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There is an approximate linear relationship between the cost of a plane ticket (y dollars) and number of days until the flight (x days) described by the equation ŷ = 500.3-6.1x, Which one of the following statements must be true?
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The cost of the ticket will decrease $6.10 for each day earlier the ticket is booked in advance.
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The correlation between ticket price and number of days prior to the flight is strong and positive.
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We can conclude that the typical cost of a ticket is $500.30
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The cost of the ticket typically varies by $6.10 from the mean price of $500.30.
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A person who paid $450 for a ticket 3 days prior to the flight paid more than expected.
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Explanation:
Detailed explanation-1: -Switching the explanatory and response variables will not change the least-squares regression line.
There is 1 question to complete.