Let X Be the Number of Pages in a Statistics

question 11

Essay

Let x be the number of pages in a statistics text book and y be the cost of the book (in dollars.) Suppose that x and y are related according to the simple linear regression model with
β
= slope of the population regression line = 0.075
α
= y intercept of population regression line = 25.0
​
a)What is the equation of the population regression line?
b)On the graph below, sketch the population regression line using the information above. Be sure to label and scale your axes correctly. c)For a statistics book of 900 pages, what is the predicted cost in dollars?
d)What is the average change in price that is associated with a one-page increase in size of a statistics book?
e)What is the average change in price that is associated with a 20-page increase in size of a statistics book?

---

Definitions:

Rent Expense

The cost incurred by a business for the use of a property, facility, equipment, or other asset under a lease agreement, charged as an expense.

Prepaid Rent Expense

An expense account that records payments for rent made in advance of the rental period.

Adjusting Entry

At the end of an accounting timeframe, records are made to attribute income and spending to the specific period in which they were incurred.

Accumulated Depreciation

The total sum of depreciation for a fixed asset that has been charged to expense since the asset was acquired and placed into service.