Answer:
The predicted price for of a textbook that is 1 cm thick is $18.86
Step-by-step explanation:
From the question we are told that
The sample size is n = 10
The maximum thickness is
The minimum thickness is
The sum Σx = 30
Sxy = 87
Syy = 358.9
Σy = 261
The mean thickness is
Substituting value
The mean price of the book is
Substituting value
Generally the least square regression equation is mathematically represented as
is the predicted price
Where is a constant evaluated as
Substituting value
At mean price and thickness The least square regression equation becomes
i.e
Substituting value
=>
For a thickness of 1 cm the predicted price is
$18.86