Answer :
Final answer:
A complete simple linear regression analysis of the given data involves calculating the slope and intercept of the regression line, plotting the regression line on a scatter plot, and calculating the coefficient of determination (R-squared).
Explanation:
To conduct a complete simple linear regression analysis of the given data, we need to calculate the slope and intercept of the regression line. The slope represents the rate at which the time to drill increases with depth, and the intercept represents the estimated time to drill at a depth of 0 feet.
To calculate the slope and intercept, we can use the least squares method. This involves minimizing the sum of the squared differences between the observed y values and the predicted y values based on the regression line.
Once we have the slope and intercept, we can plot the regression line on a scatter plot of the data points and assess the goodness of fit. The scatter plot will have depth (x) on the x-axis and time to drill (y) on the y-axis.
In addition to the slope and intercept, we can also calculate the coefficient of determination (R-squared) to measure the proportion of the variation in the dependent variable (time to drill) that is explained by the independent variable (depth). A value of R-squared close to 1 indicates a strong linear relationship.
Conducting a complete simple linear regression analysis will allow us to determine the relationship between depth and time to drill and make predictions based on the regression line.
Learn more about simple linear regression analysis here:
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