Use the Given Data to Find the Equation of the Regression

question 3

Multiple Choice

Use the given data to find the equation of the regression line. Round the final values to three significant digits, if necessary.
- $\begin{array}{r|rrrr}x & 2 & 4 & 5 & 6 \\\hline y & 7 & 11 & 13 & 20\end{array}$

• A) \(\hat { y } = 0.15 + 3.0 x\)
• B) \(\hat { y } = 3.0 \mathrm { x }\)
• C) \(\hat { y } = 0.15 + 2.8 x\)
• D) \(\hat { y } = 2.8 \mathrm { x }\)

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Definitions:

Static Budget

A budget based on a fixed level of activity and does not change with the actual levels of output achieved.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels of the organization, allowing for more accurate budgeting and performance evaluation.

Volatile Demand

Demand for a product or service that experiences frequent, unpredictable changes often leading to challenges in inventory management and production planning.

Stable Demand

Describes a market condition where the demand for a particular product or service remains consistent over time.