The price (in Tk.) and demand (in kg) of a product is given in the following table:Price (Tk.)2537404548505570Demand (kg)10897.54.532a. Determine the coefficient of correlation between the two variables.Answer rounded to three decimal places.b. Determine the slope coefficient B1 for the regression of Demand on Price.Answer rounded to three decimal places.c. Determine the y-intercept Bo for the regression of Demand on Price.Answer rounded to two decimal places.d. What will be the demand when price is Tk. 52?Answer rounded to two decimal places.LO

We have given that, X :- 25, 37, 40, 45, 48, 50, 55, 70 Y :- 10, 8, 9, 7.5, 5, 4.5, 3, 2 Then, We…

Answered: Price (Tk.) 25 37 40 45 48 50 55 70…

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter4: Linear Functions

Section: Chapter Questions

Problem 41RE: For the following exercises, consider the data in Table 5, which shows the percent of unemployed in...

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For the following exercises, consider the data in Table 5, which shows the percent of unemployed ina city of people 25 years or older who are college graduates is given below, by year. 40. Based on the set of data given in Table 6, calculate the regression line using a calculator or other technology tool, and determine the correlation coefficient to three decimal places.
For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or older who are college graduates in a particular city, by year. Based on the set of data given in Table 5, calculate the regression line using a calculator or other technology tool, and determine the correlation coefficient. Round to three decimal places of accuracy
For the following exercises, consider the data in Table 5, which shows the percent of unemployed in a city ofpeople25 years or older who are college graduates is given below, by year. 41. Based on the set of data given in Table 7, calculatethe regression line using a calculator or othertechnology tool, and determine the correlationcoefficient to three decimal places.
bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.
The following fictitious table shows kryptonite price, in dollar per gram, t years after 2006. t= Years since 2006 0 1 2 3 4 5 6 7 8 9 10 K= Price 56 51 50 55 58 52 45 43 44 48 51 Make a quartic model of these data. Round the regression parameters to two decimal places.
(c) Compute the linear correlation coefficient between the weight of a car and its miles per gallon.
Consider the following regression equation representing the linear relationship between the Canada Child Benefit provided for a married couple with 3 children under the age of 6, based on their annual family net income: ŷ =121.09−0.57246xR2=0.894 where y = annual Canada Child Benefit paid (in $100s) x = net annual family income (in $1000s) Source: Canada Revenue Agency a. As the net annual family income increases, does the Canada Child Benefit paid increase or decrease? Based on this, is the correlation between the two variables positive or negative?The Canada Child Benefit paid .The correlation between the two variables is .b. Calculate the correlation coefficient and determine if the relationship between the two variables is strong, moderate or weak.r= , the relationship is . Round to 3 decimal places c. Interpret the value of the slope as it relates to this relationship. For every $1 increase in annual family net income, there is a $0.57246 decrease in…
Consider the following regression equation representing the linear relationship between the Canada Child Benefit provided for a married couple with 3 children under the age of 6, based on their annual family net income: ŷ =121.09−0.57246xR2=0.894 where y= annual Canada Child Benefit paid (in $100s) x = net annual family income (in $1000s) Source: Canada Revenue Agency a. As the net annual family income increases, does the Canada Child Benefit paid increase or decrease? Based on this, is the correlation between the two variables positive or negative?The Canada Child Benefit paid ? .The correlation between the two variables is ? .b. Calculate the correlation coefficient and determine if the relationship between the two variables is strong, moderate or weak.r= , the relationship is ? . Round to 3 decimal places c. Interpret the value of the slope as it relates to this relationship. For every $1 increase in annual family net income, there is a $0.57246 decrease in…
The ages, t years of 7 hospital patients and their blood pressure, p mmHg are shown in Table 3. patient A B C D E F G t 42 74 48 35 56 26 60 p 98 130 120 88 182 80 135 a)Produce a scatter diagram of the data and interpret the correlation coefficient.(b) Calculate the product moment correlation coefficient between t and p and give the reason tosupport fitting a regression model to these data.(c) Determine the intercept of the regression line correct to 3 decimal points.(d) Find the equation of the least square regression of p on t.(e) Estimate the blood pressure of a 40-year old patient.
A sample of sunshine (x) in percent and temperature in O Fahrenheit (y) is recorded below to perform a linear regression test for whether or not correlation exists at α = .05. Assume test conditions are satisfied. x 28.6 32.1 35 31.6 28.6 30 26.6 33.2 24.2 31.3 y 75.4 91.3 86.9 90.7 85.8 88.3 72.5 86.4 70.7 89.4 What is the regression equation and what is the value of y^y^ when x = 25?
The director of an alumni association wants to determine whether there is any type of relationship between the amount of an alumni's contribution (in dollars) and the number of years the alumnus has been out of school. Based on the data below, decide if the correlation between the number of years and the amount of the contribution is significant at the alpha value of 0.05. Years x 1 3 5 10 6 9 Contribution y 640 290 170 45 70 80 a) Determine the line of best fine y = a + bx b) When x = 8 what is y and what does it mean in this context.

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