Plot data points and graph least squares line on scatterplot

Reference no: EM131402842

Learning the mechanics. Find the correlation coefficient and the coefficient of determination for the sample data of each of the following exercises. Interpret your results.

(a) Exercise 1 (b) Exercise 2

Exercise 1
Learning the mechanics. Use the method of least squares to fit a straight line to these six data points:

X	1	2	3	4	5	6
y	1	2	2	3	5	5

(a) What are the least square estimates of β₀ and β₁?

(b) Plot the data points and graph the least squares line on the scatterplot.

Exercise 2
Learning the mechanics. Use the method of least squares to fit a straight line to these five data points:

X	-2	-1	0	1	2
y	4	3	3	1	-1

(a) What are the least squares estimates of β₀ and β₁?

(b) Plot the data points and graph the least squares line on the scatterplot.

Reference no: EM131402842

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