document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=63252>Question 63252</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Please help me with these answers. Thanks\r<BR>\n" );
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document.write( "7.	Listed below are the average prices of MyFavoriteStock, Inc. since 2000.  Use your calculator to find (a) the Regression Formula (assume it is a linear function: LinReg) and (b) the predicted value in 2020.\r<BR>\n" );
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document.write( "Years since 2000	1	2	3	4	5	6<BR>\n" );
document.write( "Stock Value per share	$8	$10	$13	$11	$14	$16\r<BR>\n" );
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document.write( "Regression Formula = 	__________________\r<BR>\n" );
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document.write( "2020 predicted price = 	__________________<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #44027 by </B><A HREF=/tutors/aboutme.mpl?userid=uma><B>uma(370)</B></A><img src=\"/images/stars/stars-10.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=uma><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=44027\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The Regression equation of Y on X  is given by Y = a + bX<BR>\n" );
document.write( "Considering the years 1,2,3,4,5,6 as X and the prices 8,10,13,11,14,16 as Y.\r<BR>\n" );
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document.write( "we have sum(Y) = Na + b*sum(x)<BR>\n" );
document.write( "and     sum(XY) = a*sum(X) + b*sum(X^2)\r<BR>\n" );
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document.write( "From the given values , sum(X) = 21, sum(Y) = 72, sum(XY)= 277, sum(X^2) = 91\r<BR>\n" );
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document.write( "and N = 6\r<BR>\n" );
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document.write( "So 72 = 6a + 21b and <BR>\n" );
document.write( "   24 = 2a + 7b\r<BR>\n" );
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document.write( "Solving the above two equations we get a = 7 and b = 10/7 = 1.4\r<BR>\n" );
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document.write( "Thus the regression formula is Y = 7 + 1.4X\r<BR>\n" );
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document.write( "Now when X =  20, Y = 7 + 1.4 * 20<BR>\n" );
document.write( "                  Y = 7 + 28<BR>\n" );
document.write( "                    = 35\r<BR>\n" );
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document.write( "So 2020 predicted price would be $35\r<BR>\n" );
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document.write( "Good Luck!!!\r<BR>\n" );
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