A random sample of 4 professional athletes produced the foll

A random sample of 4 professional athletes produced the following data where x is the number of endorsements the player has and y is the amount of money made (in millions of dollars). x 0 1 3 5, y 1 2 5 8, (a) Find an equation of the least squares regression line. Show all work; writing the correct equation, without supporting work, will receive no credit. (10 pts) (b) Based on the equation from part (a), what is the predicted value of y if x = 2? Show all work and justify your answer.

Solution

SOl)

The Regression equation is

y=a+bx

From Excel

From above analysis

y=0.797+1.424(x)

b)

Now when x=2

then y=0.797+1.424(x)

y=0.797+1.424(2)

y=3.645