Use a calculator to create a scattergram and give the keystrokes. Find the correlation coefficient give...

Use a calculator to create a scattergram and give the keystrokes.

Find the correlation coefficient give the formula, using a calculator.

Give the calculator keystrokes used when finding the equation and the correlation
coefficient.

The following is about data on disk drives.

Capacity (In TB)	Price (in $)
0.50	59.99
1.0	79.99
2.0	111.97
3.0	109.99
4.0	149.99
6.0	423.34
8.0	596.11
12.0	1079.99
32.0	4461.00

a) Sketch the scattergram.
b) Write down the equation that predicts Price from Capacity.
c) Give the correlation coefficient and state what it represents/means.
d) What is the slope estimate, b1.
e) What does it mean, in this context?
f) What is the intercept, b0.
g) What does it mean, in this context? Is it meaningful?
h) What would you predict for the price of a 20 TB drive?

Expert Solution

orchestra answered 2 years ago

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