X= big price of the contract in millions and y = c...

x= big price of the contract in millions and y = cost ofoverrun (percent of the bid price).
x = 6, 10, 3, 5, 9, 18, 16, 21
y = 31, 25, 39, 35, 29, 12, 17, 8
Find the slope, b, and the intercept, a, for the least-squaresline Write the equation of the least squares line.
If an overrun contract was bid at 12 million dollars, whatdoes the least squares line predict for the cost of overrun (as apercent of bid price)?

Answers ( 2 )

  1. svenja brunner
    svenja brunner






  2. ariana edwards
    ariana edwards
    By using statitistical soft ware we can easilycalculate
    x= big price of the contract in millions and y = cost ofoverrun (percent of the bid price).
    x = 6, 10, 3, 5, 9, 18, 16, 21
    y = 31, 25, 39, 35, 29, 12, 17, 8
    The regression equationis

    y = 43.0 - 1.68 x

    Predictor Coef SE Coef TP

    Constant 42.9901 0.8882 48.400.000

    x -1.68092 0.07044 -23.860.000

    S = 1.22810 R-Sq =99.0% R-Sq(adj) = 98.8%
    --------------
    substitute X = 12 inthe regression equatin then you will get the overrun cost (AS APERCENT OF BID PRICE )
    ---------
    hOPE THIS WILL HELPYOU

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