Different hotels in a certain area are randomly selected, and their ratings and prices were obtained online. Using technology, with x representing the ratings and y representing price, we find that the regression equation has a slope of 135 and a y-intercept of negative 397. What is the equation of the regression line?
Accepted Solution
A:
Answer:The equation of the regression line is y=135x-397.Step-by-step explanation:In a regression line x representing the ratings and y representing price.The general form of a regression line is[tex]y=mx+b[/tex] .... (1)where, m is slope and b is y-intercept.It is given that the regression equation has a slope of 135 and a y-intercept of negative 397. It means[tex]m=135[/tex][tex]b=-397[/tex]Substitute m=135 and b=-397 in equation (1) to find the equation of the regression line.[tex]y=135x+(-397)[/tex][tex]y=135x-397[/tex]Therefore the equation of the regression line is y=135x-397.