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Just a note

The best-fit regression line can be obtained using the method of least squares in the following way:

  1. Calculate the slope (b) of the best-fit line by dividing the covariance of X and Y by the variance of X:

    b  =  ΣXY -[(ΣX)(ΣY)]/N  =  0.891
    (ΣX2 - (ΣX))2/N
    • ΣXY is the sum of the product of each pair of X and Y values
    • N is the number of pairs of observations.

  2. Calculate the intercept of the best-fit line by substituting the estimated value of b in the equation below:

    a  =   - b  =   -0.44