Calculation of Regression Coefficients
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It is hypothesized that the number of bottles of an imported premium beer sold in city restaurants depends linearly on the average cost of meals in these restaurants. The following results were obtained for a sample of n = 20 restaurants of approximately equal size:
x = 30
y = 18.8
Var(x) = 412
Cov(x,y) = 212
Where:
y = Number of bottles of important premium beer sold
x = Average cost, in dollars, of a meal
Please show how to calculate for regression coefficients.
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Solution Summary
The solution provides a step by step method for the calculation of regression coefficients.
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