Develop a scatter chart from the above data.             Compute Covariance and correlation between Units Produced and the Electricity Cost. Interpret the results.             Calculate Z-score for units produced.

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ABC company produces product Gama amongst many other products. The company is planning to increase the production of Gama and is therefore analyzing various costs associated to the production of this product. One such cost is electricity which is required for the production of Gamma. The company has collected data on the Gamma units produced per day and the associated electricity costs which is presented in the following Table B:

 

Table B

Gamma Production and Electricity Consumption

 


Day

Units Produced

Electricity Cost (Rs)

1

7

238

2

3

119

3

2

159

4

5

261

5

8

317

6

11

399

7

5

122

8

15

400

9

3

213

10

6

187

 

 

  1. Develop a scatter chart from the above data.            
  2. Compute Covariance and correlation between Units Produced
    and the Electricity Cost. Interpret the results.            

Calculate Z-score for units produced.

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