Question

MEDAL!!!

Find the linear regression equation for the following data points:
Year (19xx):
55, 60, 65, 70, 75, 80, 85, 90, 95
Fare ($):
0.10, 0.15, 0.20, 0.30, 0.40, 0.60, 0.80, 1.15, 1.5

Answer 1

@satellite73 @agent0smith @Nnesha

Answer 2

@Kainui

Answer 3

I have found the linear regression equation from (1) graphing calculator and (2) online calculator that is able to calculate linear regression equation.

I got: \( y = 0.034x - 1.947\)

Answer 4

Although I doubt that this is correct because when I tried to find out the fare for the year 1998, I got a negative number.

Answer 5

I am not sure what an `ANOVA regression` is. But I do know that this has something to do with scatter plots, if that somewhat answers your question.

Answer 6

It's not that complex. I am only doing Algebra 1.

Answer 7

Read this and use the formula. I don't think there is another way to solve this equation by hand unless you use this formula. I used this formula one time on a similar problem in a stats class.

Answer 8

Can i ask why did you got a negative y intercept?

Answer 9

http://www.statisticshowto.com/how-to-find-a-linear-regression-equation/

Answer 10

@Will.H I used whatever the graphing calculator told me.

Answer 11

Let me retry it just in case.

Answer 12

Sorry give me a moment please.

Answer 13

Also i believe the fare cannot be a slope because since it is a linear equation the slope got to be constant instead the fare is not. so i assume the years should define the slope. and you can find the fare change using ratios. it will be 3/2

Answer 14

I just reread the problem and it said for me to find the exponential regression. Sorry not linear. But how do I find the exponential regression on a graphing calculator?

Answer 15

if this is Algebra 1 then you will have to use the following formual f(x)= p(1+r)^x
where p is the y intercept and r is the growth or decay and x is the time in years

Answer 16

Okay so I just looked it up and found that the exponential regression should be: \(y = 0.002(1.070)^x\)

Answer 17

How did you get R? and the y intercept

Answer 18

Well this is the exponential regression which would mean the formula: \(y=a(b)^x\). So there shouldn't be any y-intercept in here but the residual value would be approximately 1.0

Answer 19

im looking at your equation using Desmos.com you can see if its right from there.

Answer 20

it doesn't seem to be even an exponential function!

Answer 21

it is basically covering all the x-intercepts

Answer 22

But they asked for an exponential regression so I did it. And a regression wouldn't be that accurate as it should just be something of a best fit.

Answer 23

you know better. i just wanted to help as much as i could. :)

Answer 24

Thanks for the help :)

Answer 25

yw, have a good weekend.