Consider the weight and price of gold coins from Table 11.3.10. a. How strong is the association
Question:
a. How strong is the association between weight and price for these coins? Please give both a number and its interpretation in words.
b. Find the regression equation to predict price from weight.
c. Interpret the slope coefficient as a meaningful price.
d. Within approximately how many dollars are the predicted from the actual prices?
e. Find the 95% confidence interval for the slope coefficient.
f. Is the slope coefficient significantly different from 0? How do you know?
Transcribed Image Text:
TABLE 11.3.10 Gold Coins Weight (troy ounce) 1.00 1.20 0.98 me Price Maple Leaf Mex Aus American Eagle 0 American Eagle 0.50 American Eagle 025 American Eagle 0.10 $1,197.00 1.439.75 1,142.50 1,197.00 629.50 340.50 158.25
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a r 099957 This is an extremely strong association There is a nearly perfect relationship be...View the full answer
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