1. A publisher of books has produced five comparable Statistical Management books with the following costs. Both values are in thousands. Quantity produced (x000) 1 2 4 5 7 Manufacturing Cost (x000) 5.9 6.5 7.5 8 a) Calculate the correlation coefficient for the association between quantity produced and manufacturing cost. b) produced. c) quantity produced is 12000 copies. Calculate the regression line for predicting manufacturing costs from quality Predict the manufacturing cost of an eighth statistics book if the expected

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1.
A publisher of books has produced five comparable Statistical Management
books with the following costs. Both values are in thousands.
Quantity
produced
(x000)
1
2
4
5
7
Manufacturing
Cost (x000)
5.9
6.5
7.5
8
a)
Calculate the correlation coefficient for the association between quantity
produced and manufacturing cost.
b)
produced.
c)
quantity produced is 12000 copies.
Calculate the regression line for predicting manufacturing costs from quality
Predict the manufacturing cost of an eighth statistics book if the expected
Transcribed Image Text:1. A publisher of books has produced five comparable Statistical Management books with the following costs. Both values are in thousands. Quantity produced (x000) 1 2 4 5 7 Manufacturing Cost (x000) 5.9 6.5 7.5 8 a) Calculate the correlation coefficient for the association between quantity produced and manufacturing cost. b) produced. c) quantity produced is 12000 copies. Calculate the regression line for predicting manufacturing costs from quality Predict the manufacturing cost of an eighth statistics book if the expected
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