SOLUTION: Explain to me what this regression equation represent, Y'= -301.27+6.96X and what the regression line represents? How do I interpret what each term represents in this regression s

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Question 823243: Explain to me what this regression equation represent, Y'= -301.27+6.96X and what the regression line represents? How do I interpret what each term represents in this regression solution.
Answer by TimothyLamb(4379) About Me  (Show Source):
You can put this solution on YOUR website!
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y' = -301.27 + (6.96)x
y' = (6.96)x - 301.27
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answer:
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y' is a linear regression equation
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linear regression is a method for modeling the relationship between a dependent variable y and an explanatory variable x, where that relationship is linear or approximately linear
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-301.27 is the y-intercept of the regression line (aka alpha)
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6.96 is the slope of the regression line (aka beta)
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for any value of x in your data set you can calculate the value y' on the regression line by solving the linear regression equation: y' = (6.96)x - 301.27
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Solve and graph linear equations:
https://sooeet.com/math/linear-equation-solver.php
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Solve quadratic equations, quadratic formula:
https://sooeet.com/math/quadratic-formula-solver.php
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Solve systems of linear equations up to 6-equations 6-variables:
https://sooeet.com/math/system-of-linear-equations-solver.php