# Simple Linear Regression Sample Question

Simple Linear Regression Sample Question 1
An analyst has recently been studying the relationship between the number of rail cars in train and fuel cost. He has 20 sample points which are:

1. What is the equation for the best fit straight line?
2. What does best fit mean?
3. What are the two primary methods we use to measure the quality of the fit?
4. Name and briefly describe two alternative methods for best fit?
5. Does it appear to be a good fit and why?
6. What is the average error for each prediction
7. Do the actual values seem to be randomly placed about the best fit straight line?
8. If the analyst wanted to estimate the fuel cost for a train with 43 cars what would your estimated value be? Is this a safe estimate
9. The analyst wants to use this fitted curve to estimate fuel cost for super long trains, those that are 70 or more cars. What might you advise him?
10. Is it possible there other b0 and b1 values that generate a good fit between x and y? Explain why?
11. What additional characteristics of each train might be good to capture and use to help prediction fuel costs?

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