2.39 A Hong Kong snack-food vendor offers 3 types of boxed lunches to go, priced at $3,...
Question:
2.39 A Hong Kong snack-food vendor offers 3 types of boxed “lunches to go,” priced at $3, $5, and $10, respectively.
The vendor would like to establish whether there is a relationship between the price of the boxed lunch and the number of sales achieved per hour.
Consequently, over a 15-day period the vendor records the number of sales made for each of the 3 types of boxed lunches. The following data show the boxedlunch price (x) and the number sold (y) during each of the 15 lunch hours.
(3 , 7), (5 , 5), (10, 2), (3 , 9), (5 , 6), (10, 5), (3 , 6), (5 , 6),
(10, 1), (3 , 10), (5 , 7), (10, 4), (3 , 5), (5 , 6), (10, 4)
a. Describe the data numerically with their covariance and correlation.
b. Discuss the relationship between the price and number of boxed lunches sold.
Step by Step Answer:
Statistics For Business And Economics
ISBN: 9780273767060
8th Global Edition
Authors: Paul Newbold, Mr William Carlson, Ms Betty Thorne