Question
Kelly Moeller is a manager at ABC publishing INC. She thinks that the prices of physical books and the number of pages are linearly related.
Kelly Moeller is a manager at ABC publishing INC. She thinks that the prices of physical books and the number of pages are linearly related. The following table shows the data for eight books published last year: Book. Price ($) Pages A 6.30 500 B 7.50 700 C 8.50 750 D 6.50 600 E 6.00 560 F. 7.00. 650 G 5.00 480 H 7.20 680
a. Use the least squares method to develop the estimated regression equation. Please show computation steps.
b. ABC publishing Inc. is planning to publish a new physical format novel "Great Woods Temple" with 820pages. Use the estimated regression equation developed in part (a) to predict the price of the novel. Please show computation steps.
c. At = 0.05, please use t-test to test for the significance ofthe slope. Please show computation steps.
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