Companies in the shipping industry vary greatly in terms of the sides of the fleet and annual revenue. The following table shows the data for eight smaller companies in the industry:

Company	Ships (100s)	Revenue ($millions)
A	13.5	152
B	10.0	135
C	8.0	100
D	5.6	65
E	4.5	40
F	3.3	32
G	6.2	80
H	9.2	120

 answer the following questions:

a. Use the least squares method to develop the estimated regression equation. 

b. Panda Inc. has 500 ships in service. Use the estimated regression equation developed in part (a) to predict annual revenue for Panda Inc.

c. At α = 0.05, use t-test to test for the significance of the slope. 

d. Compute the coefficient of correlation.

Answer rating: 100% (QA)

To answer the questions we will use the given data to perform regression analysis and calculate the estimated regression equation predict annual reven... View the full answer