Reconsider the previous three exercises and the Legos data
fi le. The equation of the least squares line turns out to be price = 4.86 +
0.105 × pieces, and the value of r2 5 0.949. Identify which of the following
interpretations are correct, which are incorrect, and which are correct but
incomplete or poorly worded.
a. 10.50% of the variability in prices is explained by the
least squares line with number of pieces.
b. 94.90% of the variability in prices is explained by the
least squares line with number of pieces.
 c. 94.90% of the prices fall on the least squares line
based on number of pieces.
 d. The least squares line correctly predicts the price for
94.90% of the Lego products.
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
