Regression and Predictions. Exercises 1328 use the same

Chapter 10, Problem 18

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Regression and Predictions. Exercises 1328 use the same data sets as Exercises 1328in Section 10-2. In each case, find the regression equation, letting the first variable bethe predictor (x) variable. Find the indicated predicted value by following the predictionprocedure summarized in Figure 10-5. Auction bids An item not included in the table is a pair of New York Knicks tickets.The auctioneer started the bidding at $300. Find the best predicted winning bid. Is the resultclose to the actual winning bid of $250? Opening Bid 1500 500 500 400 300Winning Bid 650 175 125 275 125

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