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Question 1
Assume you have noted the following prices for paperback
books and the number of pages
that each book contains.
Develop a least-squares estimated regression line.
Compute the coefficient of determination and explain its
meaning.
Compute the correlation coefficient between the price and the
number of pages. Test to
see if x and y are related. Use α = 0.10.
Question 2
The following data represent a company’s yearly sales volume
and its advertising
expenditure over a period of 8 years.
Develop a scatter diagram of sales versus advertising and
explain what it shows regarding
the relationship between sales and advertising.
Use the method of least squares to compute an estimated
regression line between sales
and advertising.
If the company’s advertising expenditure is $400,000, what
are the predicted sales? Give
the answer in dollars.
What does the slope of the estimated regression line
indicate?
…
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