The table gives the number of songs downloaded from MyTunes at different prices per song.
a. Find the equation of the linear regression line. Round the slope and y-intercept to the nearest hundredth.
b. What is the slope of the linear regression line?
c. What are the units of the slope when it is expressed as a rate?
d. Based on the linear regression line, how many thousands of downloads would MyTunes expect if the price was changed to $0.45? Round to the nearest integer.
e. Is your answer to part d an example of interpolation or extrapolation?
f. Find the correlation coefficient to the nearest hundredth.
g. Describe the correlation.
Price per song Number of Downloads
(in thousands)
$0.89 ...................................................... 1,212
$0.79 ...................................................... 1,704
$0.69 ...................................................... 1,760
$0.59 ...................................................... 1,877
$0.49 ...................................................... 1,944
$0.39 ...................................................... 2,011