A small business owner (SBO) recorded the length of time, y minutes, taken to travel to work
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Question:
A small business owner (SBO) recorded the length of time, y minutes, taken to travel to work when leaving home x minutes after 7am on seven selected mornings. The results are presented as follows
x | 0 | 10 | 20 | 30 | 40 | 50 | 60 |
y | 16 | 27 | 28 | 39 | 39 | 48 | 51 |
- Plot the distribution of the data on a scatter diagram
- Measure the product – moment correlation coefficient and interpret the statistic.
- i. derive the least square regression function of the y on x , expressing the answer in the form
- y = a + bx
- j. depict the derived relationship from [c]i. on the graph obtained in [a].
- The SBO needs to arrive at work no later than 8:40 AM. The number of minutes by which the SBO arrives early at work, when leaving home x minutes after 7 am is denoted by Z
- deduce that z = (100-a) – (1+b) x
- hence, estimate, to the nearest minute, the latest time that the SBO can leave home without arriving late at work.
Related Book For
Finance Applications and Theory
ISBN: 978-0077861681
3rd edition
Authors: Marcia Cornett, Troy Adair
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