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Assume you have noted the following prices for books and the number of pages that each book contains. Book Pages (x) Price (y) A 500

Assume you have noted the following prices for books and the number of pages that each book contains.

Book

Pages (x)

Price (y)

A

500

$7.00

B

700

7.50

C

750

9.00

D

590

6.50

E

540

7.50

F

650

7.00

G

480

4.50

a.

Develop a least-squares estimated regression line. Show your work.

b.

Compute the coefficient of determinationusing the Excel output and explain its meaning.

c.

d.

Compute the correlation coefficient between the price and the number of pagesusing the Excel output and explain its meaning.

Test to see if x and y are related using the Excel output Use= 0.10.

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