Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following data give the average price received by fishermen for several species of fish in 2000 and 2010 The price is in cents per

image text in transcribed
image text in transcribed

The following data give the average price received by fishermen for several species of fish in 2000 and 2010 The price is in cents per pound Fish COD FLOUNDER HADDOCK MENHADEN PERCH CHINOOK COHO ALBACORE SOFT SHELLED CLAMS LOBSTERS AMERICAN SEA SCALLOPS SHRIMP Year 2000 Price x 13 1 15 3 25 8 1 8 4 9 55 4 39 3 26 7 47 5 94 7 135 6 47 6 a Create a regression equation for the data Year 2010 Price y 60 1 126 3 96 7 52 1 36 4 225 2 125 0 84 5 196 7 366 7 430 9 145 8 Round to 2 decimal places b What is the correlation coefficient between the 2000 and 2010 prices Round to 2 decimal places c If a type of fish was 41 3 cents per pound in 2000 how much would you expect to pay for it in 2010 c lbs Round to 1 decimal places

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Visual Differential Geometry And Forms A Mathematical Drama In Five Acts

Authors: Tristan Needham

1st Edition

0691219893, 9780691219899

More Books

Students also viewed these Mathematics questions

Question

How does a free market eliminate a shortage? v54

Answered: 1 week ago

Question

What is the opportunity cost of the economics profession? : lop96

Answered: 1 week ago