Given are the set of Y (price) and X (demand) of a certain commodity. X- {9,7,8,9,3,2} and Y- {6,5,7,6,9,8} respectively. a. The equation of the regression line is y=3.6712+4.2318x y=3.6712-4.2318x y=9.1972-0.3732x y=9.1972+0.3732x b. What will be the price of a commodity if the demand is 12? 3.9724

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter4: Polynomial And Rational Functions

Section4.6: Variation

Problem 2E

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Question

Given are the set of Y (price) and X (demand) of a certain commodity. X- {9,7,8,9,3,2} and Y- {6,5,7,6,9,8} respectively.

a. The equation of the regression line is
y=3.6712+4.2318x
y=3.6712-4.2318x
y=9.1972-0.3732x
y=9.1972+0.3732x

b. What will be the price of a commodity if the demand is 12?
3.9724
4.1788
5.7689
8.1234

c. What will be the demand of a commodity if the price is 6?
5.4356
7.2315
8.5670
9.1254

d. The coefficient of correlation is equal to
0.85
0.78
-0.85
-0.78

Definition Definition Relationship between two independent variables. A correlation tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

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