A company sets different prices for a particular stereo system in eight different regions of the...

 

Transcribed Image Text:

A company sets different prices for a particular stereo system in eight different regions of the country. The accompanying table shows the numbers of units sold (Y) and the corresponding prices, x (in hundreds of dollars). y y? x.y 25 8 39 27 33 6 60 13 21 45 10 50 12 Column Totals a. Draw a scatter diagram for the given data. Write down the estimated regression equation of the sold units on prices b. Calculate and interpret the Pearson's correlation coefficient, r. Describe the type, direction, and the strength of the relationship between the number of units sold and the prices. Predict the number of units to be sold, if the price is 8 hundred doilars? C. d. e. A company sets different prices for a particular stereo system in eight different regions of the country. The accompanying table shows the numbers of units sold (Y) and the corresponding prices, x (in hundreds of dollars). y y? x.y 25 8 39 27 33 6 60 13 21 45 10 50 12 Column Totals a. Draw a scatter diagram for the given data. Write down the estimated regression equation of the sold units on prices b. Calculate and interpret the Pearson's correlation coefficient, r. Describe the type, direction, and the strength of the relationship between the number of units sold and the prices. Predict the number of units to be sold, if the price is 8 hundred doilars? C. d. e.