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The cost of a leading liquid laundry detergent in different sizes is given below. Size (ounces) Cost ($) Cost per ounce 16 3.89 32
The cost of a leading liquid laundry detergent in different sizes is given below. Size (ounces) Cost ($) Cost per ounce 16 3.89 32 4.79 64 5.49 200 10.19 Part (a) + Part (b) Part (c) Calculate the least squares line. Put the equation in the form of: = a + bx. (Round your answers to three decimal places.) = Part (d) Find the correlation coefficient r. (Round your answer to four decimal places.) r = Is it significant? Yes No Part (e) If the laundry detergent were sold in a 30-ounce size, find the estimated cost. (Use your equation from part (c). Round your answer to two decimal places.) $ Part (f) If the laundry detergent were sold in an 84-ounce size, find the estimated cost. (Use your equation from part (c). Round your answer to two decimal places.) $ + Part (g) Part (h) + Part (i) Part (j) Part (k) What is the slope of the least squares (best-fit) line? (Round your answer to three decimal places.) Interpret the slope. As the number of ounces increases by one, the cost of the liquid laundry detergent increases by this many dollars. As the cost of liquid laundry detergent increases by $1, the detergent size increases by this many ounces.
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