Reply Sun 11 May, 2014 12:27 am
Number of eggs and price per dozen are shown below.

No. of eggs (million)
957
1332
1163
1865
119
273

Price per dozen ($)
0.770
0.697
0.617
0.652
1.080
1.420

Answer the following questions.
i) Construct a scatter plot for the data
ii) Is there a linear relationship between the two variables?
iii) Calculate the correlation coefficient, r.
iv) Briefly comment on the relationship between the two variables based on the
correlation coefficient, r.
v) Calculate the slope, b.
vi) Calculate the intercept, a.
vii) Write the regression equation
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raprap
 
  1  
Reply Mon 12 May, 2014 11:06 am
@MattySlam,
1) on an x/y ncoordinate plot the number of eggs (y) as the ordinate and the price per dozen (x) as the abscissa.

2) from the scatter plot see if there is a line that roughly fits the scatter plot.

3) using least square determine the best fit line (y=mx+b) correlation between the variables. Plot this line on the scatter graph.

4) calculate the Pearson's product of this correlation , this is a measure of the fit of the regression.

5) the slope is the value of m in the correlation.

6) the intercept is the value of b

7) y=mx+b

Rap
jackwilson
 
  0  
Reply Tue 19 Aug, 2014 01:59 am
@raprap,
How it can be solve by this.
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