The following sample shows: the price per pound (X) and pounds sold (Y). X 4 6...

The following sample shows: the price per pound (X) and pounds sold (Y).

X 4 6 6 10 5 8 12 10 11 8

Y 50 60 65 45 70 60 25 35 40 50

a. find the sample variance for both X and Y (rounded to second decimal area)

b. find the sample covariance between X and Y, and give interpretation of your answer

c. find the sample correlation between X and Y, and give interpretation of your answer

Expert Solution

orchestra answered 2 years ago

King Hardware sold 7 pounds of bolts yesterday at a price of $5,.00 per pound.

King Hardware sold 7 pounds of bolts yesterday at a price of $5,.00 per pound. This point is represented by the black plus symbol on the diagram below, which plots he price of bolts (measured in dollars, per pound) and the quantity sold (measured in pounds).Each small square in the grid for this graph has one side equal to 1 pound of bolts and one side equal to 1 dollar per pound. The area of one small square is therefore...

Sheffield has a standard of 1.5 pounds of materials per unit, at $6 per pound. In...

Sheffield has a standard of 1.5 pounds of materials per unit, at $6 per pound. In producing 2000 units, Sheffield used 3200 pounds of materials at a total cost of $18720. Sheffield's total variance is $900 F. $1200 U. $480 U. $720 U.

The following sample observations were randomly selected. x: 6, 5, 4, 6, 10 y: 4, 6,...

The following sample observations were randomly selected. x: 6, 5, 4, 6, 10 y: 4, 6, 5, 2, 11. Determine the 0.95 confidence interval for the mean predicted when x=9. Determine the 0.95 prediction interval for an individual predicted when x=9.

The following sample observations were randomly selected: X) 6 5 4 6 10 Y) 4 ...

The following sample observations were randomly selected: X) 6 5 4 6 10 Y) 4 6 5 2 11 a.) Determine the 0.95 confidence interval for the mean predicted when x=9. [ , ] b.) Determine the 0.95 prediction interval for an individual predicted when x=9 [ , ]

Consider the following data on x = weight (pounds) and y = price ($) for 10...

Consider the following data on x = weight (pounds) and y = price ($) for 10 road-racing bikes. Brand Weight Price ($) A 17.8 2,100 B 16.1 6,250 C 14.9 8,370 D 15.9 6,200 E 17.2 4,000 F 13.1 8,500 G 16.2 6,000 H 17.1 2,580 I 17.6 3,500 J 14.1 8,000 These data provided the estimated regression equation ŷ = 28,243 − 1,418x. For these data, SSE = 7,368,713.71 and SST = 51,100,800. Use the F test to determine...

10)Oxford Co. has a materials standard of 2.1 pounds per unit of output. Each pound has a standard price of $14 per pound.

10)Oxford Co. has a materials standard of 2.1 pounds per unit of output. Each pound has a standard price of $14 per pound. During February, Oxford Co. paid $57,300 for 4,810 pounds, which were used to produce 2,400 units. What is the direct materials quantity variance? A) $3,220 favorable B)$8,780 favorable C)$9,540 unfavorable D)$1,080 unfavorable 23) Avocado Company has an operating income of $123,900 on revenues of $1,066,000. Average invested assets are $590,000, and Avocado Company has an 13% cost...

The Koski Company has established standards as follows: Direct materials: 3 pounds at $4 per pound...

The Koski Company has established standards as follows: Direct materials: 3 pounds at $4 per pound = $12 per unit Direct labor: 2 hours at $8 per hour = $16 per unit Variable overhead: 2 hours at $5 per hour = $10 per unit Actual production figures for the past year were as follows: Units produced 500 Direct materials used 1,600 pounds Direct materials purchased (3,000 pounds) $12,300 Direct labor cost (950 hours) $7,790 Variable overhead cost incurred $4,655 The...

The following sample of observations was randomly selected. x: 5 3 6 3 4 4 6...

The following sample of observations was randomly selected. x: 5 3 6 3 4 4 6 8 y: 13 15 7 12 13 11 9 5 Determine the regression equation. Use Excel Regression. (Negative values should be indicated by a minus sign. Round your answers to 3 decimal places.) Y=

What is the vertex of y = 2x² + 6 x + 4 ?

What is the vertex of y=2x²+6x+4 ? Give details explaination

Materials: Standard Qty. Standard Cost Oats 525 pounds $1.25 per pound Wheat 450 pounds $1.15 per...

Materials: Standard Qty. Standard Cost Oats 525 pounds $1.25 per pound Wheat 450 pounds $1.15 per pound Barley 85 pounds $1.45 per pound Malt 65 pounds $2.15 per pound Honey 25 quarts $1.20 per quart Water 25 gallons $0.45 per gallon Time: Miller 4 1/2 hours $22.75 per hour Loader 1 1/2 hours $11.50 per hour Overhead is applied at $5.75 per pound completed. The recipe produced 1,025 pounds of cereal mix. If required, round your answers to the nearest...

Question