Interpretation of Regression Coefficients: Elasticity and Logarithmic Transformation · Exercise 2

Suppose one collected the following information where X is diameter of tree trunk and Y is tree height.

$$\begin{array}{cc}\text{X}& \text{Y}\\ \text{4}& \text{8}\\ \text{2}& \text{4}\\ \text{8}& \text{18}\\ \text{6}& \text{22}\\ \text{10}& \text{30}\\ \text{6}& \text{8}\end{array}$$
Regression equation: \overset{^}{y}_{i} = -3.6 + 3.1 \cdot X_{i}
What is your estimate of the average height of all trees having a trunk diameter of 7 inches?

OpenStax, Introductory Business Statistics 2e · §13.5 Interpretation of Regression Coefficients: Elasticity and Logarithmic Transformation · Exercise 2