Question

Christine is interested in buying a new backpack. She compares the price and volume of several backpacks. Christine finds that the relationship between price and volume can be described by the following least square regression line: Predicted Price = 890 - 105(Backpack Volume). What is the slope of Christine’s data? -105 price/volume -105 volume/price 105 price/volume 105 volume/price

Answer 1

In the least squares regression line equation given as:

\[ \text{Predicted Price} = 890 - 105(\text{Backpack Volume}), \]

the slope is the coefficient that is multiplied by the independent variable (in this case, "Backpack Volume").

Here, the slope is -105. This indicates that for every one-unit increase in backpack volume, the predicted price decreases by 105.

The correct interpretation of the slope is:

\(-105 , \text{price/volume}\)

Thus, the answer is:

\(-105 , \text{price/volume}\)