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The following data depicts the relationship between the Amount spent on insurance and the amount of inventory loss.

X = Amt spent on protection

Y = Amt of inventory lost or stolen

The least squared regression line : Y = 86.43 – 38.47 X

How much will the amount of loss in inventory be if the amount of protection is $6.39? Leave your answer to 2 decimal places.

Respuesta :

Using the given regression line, it is found that the amount of loss in inventory will be of $159.39.

What is the regression line?

The regression line is:

Y = 86.43 - 38.47X

In which:

  • X is the amount spent on protection.
  • Y is the amount of inventory lost.

In this problem, we have that X = $6.39, hence:

Y = 86.43 - 38.47 x 6.39 = -$159.39.

The amount of loss in inventory will be of $159.39.

More can be learned about regression lines at https://brainly.com/question/17004137

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