Question

Question 1(a): Show the correlation between price and quantity supplied.

X	10	16	24	31	42	50
Y	60	58	50	32	26	12

Question 1(b): Obtain regression equation of Y on X and estimate Y when X= 50 from the following

X	40	50	38	60	60	50	30
Y	38	60	55	70	65	48	35

Answer 1

1(a)

Following table shows the calculations:

	X	Y	X^2	Y^2	XY
	10	60	100	3600	600
	16	58	256	3364	928
	24	50	576	2500	1200
	31	32	961	1024	992
	42	26	1764	676	1092
	50	12	2500	144	600
Total	173	238	6157	11308	5412

1(b)

Following table shows the calculations:

	X	Y	X^2	Y^2	XY
	40	38	1600	1444	1520
	50	60	2500	3600	3000
	38	55	1444	3025	2090
	60	70	3600	4900	4200
	60	65	3600	4225	3900
	50	48	2500	2304	2400
	50	35	2500	1225	1750
Total	348	371	17744	20723	18860

---------------------------------------------------------------------------------------------------------------