The following data represent the number of flash drives sold per day at a local computer shop and their prices.

a.Develop a least-squares regression line and explain what the slope of the line indicates.
b.Compute the coefficient of determination and comment on the strength of relationship between x and y.
c.Compute the sample correlation coefficient between the price and the number of flash drives sold. Use $\alpha$= 0.01 to test the relationship between x and y.

Question

The following data represent the number of flash drives sold per day at a local computer shop and their prices.
  
a.Develop a least-squares regression line and explain what the slope of the line indicates.
b.Compute the coefficient of determination and comment on the strength of relationship between x and y.
c.Compute the sample correlation coefficient between the price and the number of flash drives sold. Use $\alpha$= 0.01 to test the relationship between x and y.

Quizplus · Accepted Answer

The Answer of The following data represent the number of flash drives sold per day at a local computer shop and their prices.
  
a.Develop a least-squares regression line and explain what the slope of the line indicates.
b.Compute the coefficient of determination and comment on the strength of relationship between x and y.
c.Compute the sample correlation coefficient between the price and the number of flash drives sold. Use $\alpha$= 0.01 to test the relationship between x and y.

The Following Data Represent the Number of Flash Drives Sold α\alphaα

The Following Data Represent the Number of Flash Drives Sold $\alpha$