Compute the least-squares regression line

Reference no: EM13963908

An economist desires to estimate a line that relates personal disposable income (DI) to consumption expenditures (CE). Both DI and CE are in thousands of dollars. The following gives the data for a random sample of nine households of size four.

DI	25	22	19	36	40	47	28	52	60
CE	21	20	17	28	34	41	25	45	51

(a) Calculate the least-squares regression line for these data.

(b) Plot the points and the least-squares regression line on the same graph.

Reference no: EM13963908

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