Question: Answer all please! 4. The following table presents the average price in dollars for a dozen eggs and a gallon of milk for each month

Answer all please!

Answer all please! 4. The following table presents the average price indollars for a dozen eggs and a gallon of milk for each

4. The following table presents the average price in dollars for a dozen eggs and a gallon of milk for each month in a recent year. Dozen Eggs Gallon of Milk 1.94 3.58 1.80 3.52 1.77 3.50 1.83 3.47 1.69 3.43 1.67 3.40 1.65 3.43 1.88 3.47 1.89 3.47 1.96 3.52 1.96 3.54 2.01 3.58 Suppose we wanted to test the claim that there is a signicant positive linear correlation at the a = 0.01 level of significance. a. Make a scatter plot on the grid below. Be sure to label both axes with the appropriate m (2 points). b. Calculate the sample correlation coefficient r. (1 point) c. State the null and alternate hypotheses for the formal hypothesis test of the correlation coefficient. (1 point) d. Give the p-value and state your conclusion for the hypothesis test.(2 points) e. Interpret the final conclusion in the context of the original claim. (3 points) f. Provide the equation of the regression line. (2 points) g. Predict the price of milk in a month when the price of eggs is $1.95. (2 points) h. Give the coefficient of determination, r-squared , and interpret what it means in the context of this problem. (2 points)

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 Mathematics Questions!