Question
Consider the following data set that contains information about the average price of a dozen eggs in ten randomly chosen cities: City Gas price per
Consider the following data set that contains information about the average price of a dozen eggs in ten randomly chosen cities:
City | Gas price per gallon ($) | Price of a dozen eggs ($) |
Cleveland | 2.21 | 0.98 |
New Orleans | 2.77 | 0.99 |
Seattle | 2.95 | 1.06 |
San Antonio | 3 | 1.16 |
Denver | 3.17 | 1.44 |
Milwaukee | 3.23 | 1.48 |
Baltimore | 3.38 | 1.54 |
Tampa | 3.72 | 1.54 |
Los Angeles | 3.81 | 1.62 |
Phoenix | 4.03 | 1.65 |
The scatter plot that summarizes the data with regard to price of gas as the input variable and price of a dozen eggs as the output variable is provided below.2.22.32.42.52.62.72.82.933.13.23.33.43.53.63.73.83.940.911.11.21.31.41.51.61.71.81.9Gas Price, [$]Product Price, [$]
a. Is there an association between the two variables? If yes, is it positive or negative?
There appears to be a Select an answer negative no positive Correct association between the two variables.
b. Use technology to find the equation of the line of best fit, y=mx+by=mx+b, and the coefficient of determination and interpret the slope, the vertical intercept, and the correlation. (Round the answers to 3 decimal places.)
i. m=m= Select an answer gallons $ $/$ miles Correct is the Select an answer price of gas when a dozen eggs is free the rate of change of the price of gas the rate of change of the price of a dozen eggs price of a dozen eggs when the price of gas is zero Correct ;
ii. b=b= Select an answer miles gallons $ $/$ Correct is the Select an answer the rate of change of the price of gas price of gas when a dozen eggs is free the rate of change of the price of a dozen eggs price of a dozen eggs when the price of gas is zero Correct ;
iii.r=r= hence there is a Select an answer strong weak no Correct linear relation.
c. Use the line of best fit to:
i. estimate the price of a dozen eggs when the price of gas is 3.15 dollars per gallon.
Answer: dollars. (Round the answer to 2 decimal places)
ii. estimate the price of gas when the price of dozen eggs is 1.03 dollars.
Answer: dollars per gallon. (Round the answer to 2 decimal places)
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