Given the Least Squares Regression Equation, Ŷ = 1,202

question 85

Multiple Choice

Given the least squares regression equation, Ŷ = 1,202 + 1,133X, when X = 3, what does Ŷ equal?

• A) 5,734
• B) 8,000
• C) 4,601
• D) 4,050

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Definitions:

Laspeyres Price Index

A price index used to measure the change in the cost of purchasing a fixed basket of goods and services of the type consumed during a base period.

Prices Increase

A situation where the cost of goods and services rises over a period, reducing purchasing power.

Income

refers to money received, especially on a regular basis, for work or through investments.

Pizza

A popular dish of Italian origin, consisting of a round, flattened base of leavened wheat-based dough topped with tomatoes, cheese, and various other ingredients, baked at a high temperature.