In: Statistics and Probability
Use the following information to answer the next exercises. The cost of a leading liquid laundry detergent in different sizes is given in Table 12.31.
size (ounces) | cost ($) | cost per ounce |
16 | 3.99 | |
32 | 4.99 | |
64 | 5.99 | |
200 | 10.99 |
a) scatter plot is given below
b) Yes there is a strong relationship between the variables. As you can see in the above scatter plot almost all points lie on the line.
c)
The least square line is
d)
The correlation coefficient between the variables is 0.9985. Yes it is significant.There is strong correlation between the variables.
g) As you can see in the graph below that the line of observed cost and predicted cost coincides. So it best fits the data.
h) there are no outliers you can see in the graph .