Question

In: Statistics and Probability

Statistics students in Oxnard College sampled 10 textbooks in the Condor bookstore, and recorded number of...

Statistics students in Oxnard College sampled 10 textbooks in the Condor bookstore, and recorded number of pages in each textbook and its cost. The bivariate data is shown below,

Number of Pages (xx) Cost(yy)
526 52.08
625 59
589 56.12
409 25.72
489 34.12
500 53
906 78.48
251 26.08
595 50.6
719 68.52



A student calculates a linear model
yy =  xx + . (Please show your answers to two decimal places)

Use the model above to estimate the cost when number of pages is 563
Cost = $ (Please show your answer to 2 decimal places.)

Solutions

Expert Solution

Run a regression analysis in excel followed by below procedures:

1. Go to data tab --> data analysis --> choose Regression

Summary output:

Linear model Equation:

yy = = 0.09xx - 0.85

Use the model above to estimate the cost when number of pages is 563

yy = = 0.09xx - 0.85

x = 563

yy = 0.09*(563) - 0.85

yy = 49.82

estimate the cost when number of pages is 563 = 49.82


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