City government has collected the following data on annual sales tax collections and new car registrations

QUESTION:

City government has collected the following data on annual sales tax collections and new car registrations:

Determine the following:

(a) The least-squares regression equation?

(b) Using the results of part (a), find the estimated sales tax collections if new car registrations total 22,000?

(c) The coefficients of correlation and determination?

ANSWER:

(a) Least squares equation: Y = –0.158 + 0.1308X.

(b) Y = –0.158 + 0.1308(22) = 2.719 million.

(c) Coefficient of correlation = r = 0.966 coefficient of determination = r2 = 0.934.

 

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