Use the Regression Equation to Predict the Value of Y

question 110

Multiple Choice

Use the regression equation to predict the value of y for x = -2.8. Assume that the variables x and y have a significant correlation. $$\begin{array} { l | c | c | c | c | c | c | c | c | c | c | } \mathrm { x } & - 5 & - 3 & 4 & 1 & - 1 & - 2 & 0 & 2 & 3 & - 4 \\\hline \mathrm { y } & - 10 & - 8 & 9 & 1 & - 2 & - 6 & - 1 & 3 & 6 & - 8\end{array}$$

• A)-6.424
• B)-5.320
• C)3.643
• D)0.551

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Definitions:

Price Discrimination

Price Discrimination occurs when a seller charges different prices for the same product or service to different customers, based on factors other than the cost of production.

Individual Demand

The quantity of a good or service that a single consumer is willing and able to purchase at various prices.

Price Discrimination

The strategy where a business sells the same product at different prices to different groups of consumers, based on willingness to pay.

Illegal

Actions or activities that are forbidden by law or statute.