statistics

Q3 (20P). An iron casting company plans to produce water meters. In its market research, obtained the data on water meter demand by years, given in below chart. Years 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Water meter demand 6500 7500 6800 8000 9000 8500 10000 10500 12000 14000 (quantity) Express the relationship between the exhausted age and dry matter level with the regression equation (Y = ax + b). i) The company aims to produce 18000 water meters for the year 2023. Evaluate the compatibility of existing data with business objectives. ii) By drawing the skater diagram, find the correlation coefficient and interpret the found values