(Solved): The next TWO questions (5-6) are based on the following setup. The equation of the least-squares re ...
The next TWO questions (5-6) are based on the following setup. The equation of the least-squares regression line for predicting points earned from spending is points =39.64+0.77× spending 5. What does this tell us about points gained for each additional million dollars spent? (a) A team gains about 0.77 point per million dollars spent. (b) A team gains about 0.3964 point per million dollars spent. (c) A team gains about 39.64 points per million dollars spent. (d) A team gains about 40.41 points per million dollars spent. 6. Use the regression equation to predict the points earned if a team spent $60 million. (a) 46.2 (b) 81.6 (c) 85.8 (d) 99.6