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In: Statistics and Probability

Disk drives have been getting larger. Their capacity is now often given in terabytes​ (TB) where...

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.)

capacity price
.5 61.99
1 78.99
2 113.97
3 109.99
4 151.99
6 425.34
8 598.11
12 1080.99
32 4459

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