he table below gives the list price and the number of bidsreceived for five randomly selected items sold through onlineauctions. Using this data, consider the equation of the regressionline, y^=b0+b1x , for predicting the number of bids an item willreceive based on the list price. Keep in mind, the correlationcoefficient may or may not be statistically significant for thedata given. Remember, in practice, it would not be appropriate touse the regression line to make a prediction if the correlationcoefficient is not statistically significant.
Price in Dollars 25 33 34 45 48
Number of Bids 2 3 4 5 7
1 of 6: Find the estimated slope. Round your answer to threedecimal places.
2 of 6: Find the estimated y-intercept. Round your answer tothree decimal places.
3 of 6: Find theestimated value of y when x=34x=34. Round your answer to threedecimal places.
4 of 6: Determine ifthe statement \"Not all points predicted by the linear model fall onthe same line\" is true or false.
5 of 6: According to the estimated linear model, if the value ofthe independent variable is increased by one unit, then the changein the dependent variable yˆy^ is given by?
6 of 6: Find the value of the coefficient of determination.Round your answer to three decimal places.
