Compute the value of b0 and b1 find the regression equation

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Reference no: EM13640801

The following data reports the income rate ($1000) and average expense ($1000) for the large area in the U.S

area income rate ($1000) average expense ($1000)
New York 80.7 70.5
Los Angeles 67.9 54.7
Chicago 72.0 61.1
Boston 73.5 62.2
Seattle 73.4 65.0
San Francisco 78.7 66.8
Dallas 69.5 58.7



1. Compute the value of b0 and b1

2. Find the regression equation

3. Predict the income rate for an area with an average expense of $75

4. Computed the coefficient of correlation

Reference no: EM13640801

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