SOLUTION: The table below illustrates the world growth in Internet use. Year 2001 had 494.1 Internet users (number in millions) Year 2002 had 679.8 Internet users Year 2003 had 790.1 In

Question 1002195: The table below illustrates the world growth in Internet use.
Year 2001 had 494.1 Internet users (number in millions)
Year 2002 had 679.8 Internet users
Year 2003 had 790.1 Internet users
Year 2004 had 935.0 Internet users
Year 2005 had 1047.9 Internet users
Year 2006 had 1217.0 Internet users
Year 2007 had 1402.1 Internet users
Year 2008 had 1542.5 Internet users
(a) Find the least squares regression line for these data.
What I have so far...
a = 8108.5*32144204-16036*16259660.2 ≈ −293550.098809
8*32144204-160362
b =8*16259660.2-16036*8108.5 ≈ 146.951
8*32144204-16036^2
Regression equation: y = 146.951x −293550.099
What is goodness of fit and how to interpret the slope of the line?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
It's a little easier if you set x, the year, to 1,2,3,...,8
I get y=146.93x+352.43.
goodness of fit is r^2, and you get that on your calculator by pressing 2nd 0 and then press x(-1) to get you to the D section of the catalog. Diagnostics ON, and hit enter once to get it in and a second time to run the regression again.
r^2 is the goodness of fit, which is very high or 0.996. This suggests that the line is very good in predicting y from x.
The slope is the increase in number of Internet users in millions every year.
The intercept is the number of Internet users at year 0, which in this instance (for me) is 352 million in 1999. That may actually make sense, but often, the intercept is nonsense and you can ignore it. The slope and the r^2 are what you want.
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