Use the following statistics to calculate the slope of the least squares regression line to two decimal places: Sample Mean Sample Standard Deviation X 38 ft 7.5 ft Y $326 $18.2 The correlation between x and y is 0.96. Answer: _________ $/ft
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Step 1: Calculate the slope of the least squares regression line using the formula: slope (B) = correlation coefficient * (standard deviation of Y / standard deviation of X) Show more…
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