i need these two questions step by step Q1: Wisconsin is an important milk-producing state. Some people

i need these two questions step by step

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Q1: Wisconsin is an important milk-producing state. Some people might argue that because of transportation costs, the cost of milk increases with the distance of markets from Wisconsin. Suppose the milk prices in eight cities are as follows. Cost of Milk Distance from Madison (per gallon) $2.64 (miles) 1,245 2.31 425 2.45 1,346 2.52 973 2.19 255 2.55 865 2.40 1,080 2.37 296 Use the prices along with the distance of each city from Madison, Wisconsin, to develop a regression line to predict the price of a gallon of milk by the number of miles the city is from Madison. Use the data and the regression equation to compute SSR, SST and SSE for this model. Sketch a graph. Comment on the slope. Predict the price when distance is 1,000 miles and 500 miles. Q2: The following data are the claims (in $ millions) for BlueCross BlueShield benefits for nine states, along with the surplus (in $ millions) that the company had in assets in those states. State Claims Surplus $277 Alabama $1,425 Colorado 273 100 Florida 915 120 Illinois 1,687 259 Maine 234 40 Montana 142 25 North Dakota 259 57 Oklahoma 258 31 Техas 894 141 Use the data to compute a correlation coefficient, r, to determine the correlation between claims and surplus. Q1: Wisconsin is an important milk-producing state. Some people might argue that because of transportation costs, the cost of milk increases with the distance of markets from Wisconsin. Suppose the milk prices in eight cities are as follows. Cost of Milk Distance from Madison (per gallon) $2.64 (miles) 1,245 2.31 425 2.45 1,346 2.52 973 2.19 255 2.55 865 2.40 1,080 2.37 296 Use the prices along with the distance of each city from Madison, Wisconsin, to develop a regression line to predict the price of a gallon of milk by the number of miles the city is from Madison. Use the data and the regression equation to compute SSR, SST and SSE for this model. Sketch a graph. Comment on the slope. Predict the price when distance is 1,000 miles and 500 miles. Q2: The following data are the claims (in $ millions) for BlueCross BlueShield benefits for nine states, along with the surplus (in $ millions) that the company had in assets in those states. State Claims Surplus $277 Alabama $1,425 Colorado 273 100 Florida 915 120 Illinois 1,687 259 Maine 234 40 Montana 142 25 North Dakota 259 57 Oklahoma 258 31 Техas 894 141 Use the data to compute a correlation coefficient, r, to determine the correlation between claims and surplus.

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Answer Q1 Excel Data Data Analysis Regression SUMMARY OUTPUT Regression Statistics Multiple R 075377... View the full answer