In: Statistics and Probability
Disk drives have been getting larger. Their capacity is now often given in terabytes (TB) where 1
TBequals=1000
gigabytes, or about a trillion bytes. A search of prices for external disk drives on a large shopping website in a recent year found the accompanying data. The data are known to have a strong, positive, gently-curved pattern with no outliers. Researchers want to predict Price from Capacity. Complete parts a) through h) below.
a) Find the slope estimate,
b 1b1
and interpret it in words.
Find the slope estimate.
b1=
(Round to two decimal places as needed.)
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