For 10 observations on price ( x ) and supply (y), the following data was obtained: aligned & x =130, y =220 & x ^2=2288, y ^2=5506 and xy =3467 . aligned What is line of regression of y on x ?

Step-by-step solution

Line of regression of y on x is : aligned & aligned & y- y =b_ y x (x- x ) & y = y n ; x = x n y = 220 10 =22 ; x = 130 10 =13 & b_ y x = r _y _x & r = n x y-( x)( y) [n x^2-( x)^2 ] [n y^2-( y)^2 ] &= 10(3467)-(130)(220) [(10 2288)-130^2 ] [(10 5506)- (220^2 ) ] & r =0.962 & _y= y^2 n - ( y n )^2 _y=8.2 ; _x=7.73 . & b_ x y =0.962 8.2 7.73 =1.02 aligned aligned Line of regression of y on x is : gathered y-22=1.02(x-13) y=1.02 x+8.74 gathered