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Linear regression for two variables is based on a linear equation with one independent variable. The equation has the form:

y = a + bx


where a and b are constant numbers.

The variable x is the independent variable, and y is the dependent variable. Typically, you choose a value to substitute for the independent variable and then solve for the dependent variable.

The following examples are linear equations.

y = 3 + 2x
y = –0.01 + 1.2x
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Is the following an example of a linear equation?

y = –0.125 – 3.5 x

yes

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The graph of a linear equation of the form y = a + bx is a straight line . Any line that is not vertical can be described by this equation.

Graph the equation y = –1 + 2 x .

Graph of the equation y = -1 + 2x.  This is a straight line that crosses the y-axis at -1 and is sloped up and to the right, rising 2 units for every one unit of run.
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Is the following an example of a linear equation? Why or why not?

This is a graph of an equation. The x-axis is labeled in intervals of 2 from 0 - 14; the y-axis is labeled in intervals of 2 from 0 - 12. The equation's graph is a curve that crosses the y-axis at 2 and curves upward and to the right.

No, the graph is not a straight line; therefore, it is not a linear equation.

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Aaron's Word Processing Service (AWPS) does word processing. The rate for services is $32 per hour plus a $31.50 one-time charge. The total cost to a customer depends on the number of hours it takes to complete the job.

Find the equation that expresses the total cost in terms of the number of hours required to complete the job.

Let x = the number of hours it takes to get the job done.
Let y = the total cost to the customer.

The $31.50 is a fixed cost. If it takes x hours to complete the job, then (32)( x ) is the cost of the word processing only. The total cost is: y = 31.50 + 32 x

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Emma’s Extreme Sports hires hang-gliding instructors and pays them a fee of $50 per class as well as $20 per student in the class. The total cost Emma pays depends on the number of students in a class. Find the equation that expresses the total cost in terms of the number of students in a class.

y = 50 + 20 x

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Slope and Y -intercept of a linear equation

For the linear equation y = a + bx , b = slope and a = y -intercept. From algebra recall that the slope is a number that describes the steepness of a line, and the y -intercept is the y coordinate of the point (0, a ) where the line crosses the y -axis.

Three possible graphs of the equation y = a + bx. For the first graph, (a), b > 0 and so the line slopes upward to the right. For the second, b = 0 and the graph of the equation is a horizontal line. In the third graph, (c), b < 0 and the line slopes downward to the right.
Three possible graphs of y = a + bx . (a) If b >0, the line slopes upward to the right. (b) If b = 0, the line is horizontal. (c) If b <0, the line slopes downward to the right.

Svetlana tutors to make extra money for college. For each tutoring session, she charges a one-time fee of $25 plus $15 per hour of tutoring. A linear equation that expresses the total amount of money Svetlana earns for each session she tutors is y = 25 + 15 x .

What are the independent and dependent variables? What is the y -intercept and what is the slope? Interpret them using complete sentences.

The independent variable ( x ) is the number of hours Svetlana tutors each session. The dependent variable ( y ) is the amount, in dollars, Svetlana earns for each session.

The y -intercept is 25 ( a = 25). At the start of the tutoring session, Svetlana charges a one-time fee of $25 (this is when x = 0). The slope is 15 ( b = 15). For each session, Svetlana earns $15 for each hour she tutors.

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Ethan repairs household appliances like dishwashers and refrigerators. For each visit, he charges $25 plus $20 per hour of work. A linear equation that expresses the total amount of money Ethan earns per visit is y = 25 + 20 x .

What are the independent and dependent variables? What is the y -intercept and what is the slope? Interpret them using complete sentences.

The independent variable ( x ) is the number of hours Ethan works each visit. The dependent variable ( y ) is the amount, in dollars, Ethan earns for each visit.

The y -intercept is 25 ( a = 25). At the start of a visit, Ethan charges a one-time fee of $25 (this is when x = 0). The slope is 20 ( b = 20). For each visit, Ethan earns $20 for each hour he works.

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Questions & Answers

What are the factors that affect demand for a commodity
Florence Reply
differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
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WARKISA
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Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
yes,thank you
Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
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Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
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Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
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