00:01
For this problem, we are told that the regional transit authority for a major metropolitan area wants to determine whether there is any relationship between the age of a bus and the annual maintenance cost.
00:12
So i'll note that the actual data for this problem wasn't included, but what i can do is go over sort of equations and the sort of procedure that you would need to figure out everything that you're looking for here.
00:26
So the first thing that i'll note is that for finding the least squares estimated regression equation, we want to find something in the form of y equals.
00:39
It would be in this form.
00:42
I'm just double checking.
00:44
That would be, oh, actually, i'm just going to grab a different form of the formula.
00:49
Okay.
00:51
So it would be in the form, y equals a, x plus b.
00:57
Where a is the sum of the differences between each x value and the mean x value, and then we have, or times the difference between each y value and the mean y value.
01:09
So we sum all those up.
01:11
Then we divide by the squared differences along the x values...