Meaning of m and y

[Hye]

Hey
An electrical goods warehouse produces the following data showing the selling price of electrical goods to retailers and the volume of those sales.

Selling price ($)   60   80   100   120   140   160   200   220   240   260
Sales volume (× 1000)   400   300   275   250   210   190   150   100   50   0

Perform a least-squares regression analysis and discuss the meaning of the gradient and y-intercept.

How would you discuss the meaning of the gradient and y-intercept.

the answer says the line is y=-1.72x+464

[physics]

For every $1 increase in selling price, therre is a 1.72 decrease(i would say b/c its -ve) in sales volume.
The original selling price was $464. :S i think its in the maths quest book somewhere. it discusses r/n b/n gradient and y intercept. in the chapter summary section...

[Hye]

hrm ok thanks

also

You saw with the 3-median method that at least six points were needed to perform meaningful
analysis and generate a linear equation. Is the same true of least-squares linear regression?
Consider the following data set.

x 1 2 3 4 5 6
y 12 16 17 21 25 29

d Comment on your results.

the answer says perhaps 'converging' to the correct line?

What does this mean

[physics]

going towards the x axis when IV increases DV decreases therefore converging towards X