4. Owner of a video rental chain want to predict the success of a potential...

4. Owner of a video rental chain want to predict the success of a potential new store. The company’s researcher begins by gathering information on number of rentals and average family income from several of the chain’s present outlets.

Average family
Income
(RM1,000), x 65 43 29 47 52 50 46 29 31 43 49 64
Rentals, y 710 529 314 504 619 428 317 205 468 545 607 694

a. Construct a scatter plot for the data.
b. Comment on the relationship between age and price of cars base on the above scatter plot of the data
c. Calculate the correlation coefficient, R. Interpret the calculated value of R.
d. Calculate the correlation of determination. Interpret the value of R2.
e. Briefly comment on the relationship between the two variables based on the correlation coefficient, R.
f. Calculate the slope, b.
g. Calculate the intercept, a.
h. Write the regression equation.

Expert Solution

orchestra answered 2 years ago

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