Question: 1. The following table shows sample data for the number of motor registration and the number of tyres sold in a certain territory for the

 1. The following table shows sample data for the number of

1. The following table shows sample data for the number of motor registration and the number of tyres sold in a certain territory for the same period. Year Motor No. of Tyres Sold Registration 1 600 1250 2 630 1100 3 720 1300 4 750 1350 5 800 1500 6 830 1650 Using Excel, carry out the following analysis: i) Compute the correlation coefficient between motor registration and sale of motor tyres. Interpret your results (3 Marks) (2 Marks) ii) Obtain a scatter diagram of motor registration and sale of motor tyres. iii) Fit a regression equation of the form = Bo + X to this data. results in the context of the problem. Interpret your (4 Marks) iv) Predict the number of tyres sold when there are 950 motors registered. (1 Marks)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!