For six weeks, Ace Hardware recorded the price of a particular item and the corresponding sales of that item as shown in the table below (a) Construct a scatter diagram with price on the horizontal axis (b) Use the scatter diagram in part (a) to determine whether you believe that a correlation exis...

For six weeks, Ace Hardware recorded the price of a particular item and the corresponding sales of

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For six weeks, Ace Hardware recorded the price of a particular item and the corresponding sales of that item as shown in the table below.

Price ($) 0.75 1.00 1.25 1.50 1.75 2.00 Number sold 160 200 140 120 110 95

(a) Construct a scatter diagram with price on the horizontal axis.

(b) Use the scatter diagram in part (a) to determine whether you believe that a correlation exists between the price of the item and number sold. If so, it is a positive or a negative correlation?

(d) Determine whether a correlation exists at α = 0.05.

(e) Determine the equation of the line of best fit for the price and the number of items sold.

(f) Use the equation in part (e) to estimate the number of items sold if the price is $1.60.

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a b Yes negative because generally as the pri...View the full answer

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Related Book For book-img-for-question

A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Question Posted: Feb 01, 2019 10:37 AM

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