The 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, yˆ=b0+b1xy^=b0+b1x, for predicting the number of bids an itemwill receive 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 | 24 | 32 | 33 | 45 | 46 |
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| Number of Bids | 2 | 3 | 6 | 7 | 9 |
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Step 1 of 6 :Â Â
Find the estimated slope. Round your answer to three decimalplaces.
