Question

In: Statistics and Probability

-Compute the sample correlation coefficient between the price and the number of flash drives sold. Also,...

-Compute the sample correlation coefficient between the price and the number of flash drives sold. Also, develop a least-squares estimated regression line.

Price (x) Units sold (y)
34 4
36 4
32 6
35 5
31 9
38 2
39 1

Solutions

Expert Solution

Solution :

X Y XY X^2 Y^2
34 4 136 1156 16
36 4 144 1296 16
32 6 192 1024 36
35 5 175 1225 25
31 9 279 961 81
38 2 76 1444 4
39 1 39 1521 1
n 7
sum(XY) 1041.00
sum(X) 245.00
sum(Y) 31.00
sum(X^2) 8627.00
sum(Y^2) 179.00
Numerator -308.00
Denominator 326.02
r -0.9447
r square 0.8925
Xbar(mean) 35.0000
Ybar(mean) 4.4286
SD(X) 2.3570
SD(Y) 2.1602
b -0.8462
a 34.0440

sample correlation coefficient = r = -0.9447

Regression line = 34.0440 - 0.8462 x


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