Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Assuming the following table of the cost (X) and selling (Y) price of flight tickets in dollars (S): Cost Price (X) 200 230 500 540
Assuming the following table of the cost (X) and selling (Y) price of flight tickets in dollars (S): Cost Price (X) 200 230 500 540 670 320 190 280 625 Sell Price (V) 300 250 510 700 730 500 412 355 635 Compute the following: 1. Plot a scatter plot of the data (manual plot or use any software like excel). (2 marks) 2. Pearson correlation coefficient (r). (2 marks) 3. The relation type and strength. (Imark) 4. Linear regression formula ( = B + RX). (2 marks) 5. The estimated of the ticket selling price when the cost is $500. (1 mark) 6. The error of the ticket selling price estimate when the cost is $500. (1 mark) 7. What is the percent of cost price variable interpret the variation of sell price variable (How much the coefficient of determination)? (1 mark) 20 estine
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started