Question

Use the following information to answer the next five exercises. A random sample of ten professional athletes produced the following data where $x$is the number of endorsements the player has and $y$is the amount of money made (in millions of dollars).

x	y	x	y
0	2	5	12
3	8	4	9
2	7	3	9
1	3	0	3
5	13	4	10

What is the y-intercept of the line of best fit? What does it represent?

Short answer

The y-intercept of the line of the best fit is $2.2336$,it represents that a professional player gets a fixed amount of money at the beginning of the first endorsement.

Step-by-step solution

Step-1 Given Information

Given in the question that, a random sample of ten professional athletes produced the following data where$x$is the the number of endorsements the player has and $y$is the amount of money paid.

Step-2 Explanation

To draw the scatter plot, firstly write down the whole data into excel:

	A	B
1	x	y
2	0	2
3	3	8
4	2	7
5	1	3
6	5	13
7	5	12
8	4	9
9	3	9
10	0	3
11	4	10

Now select the whole data and then click on insert $y$scatter to have the desired graph .the graph is given below:

Now, to have the regression equation regression line, click on the obtained graph and then click on the trend line option under the layout bar menu. after this click on the linear trend line option.the screenshot is given below:

After this click close button to have the regression equation. the graph with equation is given below:

The y-intercept of the line of the best fit is $2.2336$,it represents that a professional player gets a fixed amount of money at the beginning of the first endorsement.