week 7 assignment

  

Week 7 Assignment

Assume you have noted the following prices for paperback books and the number of pages that each book contains.

 

  

Book

Pages (x variable)

Price (y variable)

 

A

500

$7.00

 

B

610

$8.25

 

C

550

$7.25

 

D

650

$10.00

 

E

530

$7.25

 

F

600

$8.00

 

G

477

$6.25

1. Create a scatter diagram which shows the trendline (this is the regression line) and provides the coefficient of determination. Reminder, Week 1 hints in the discussion showed how to make a scatter diagram. Also, this is a graph. It needs to have a title which shows both variables and labeled axes.

2. Define coefficient of determination from the graph (r squared). What does this tell you?

3. Define Pearson’s Product Moment Correlation Coefficient (r).  What does this tell you about how well the data fits the trend?

4. What is the equation of the trendline?

5. According to the equation of the trendline, if a book had 535 pages, how much should it cost?

6. According to the equation of the trendline, if a book cost $9.88, how many pages should it have?

7. Conduct a full hypothesis test to determine if x and y are related. Use α = 0.05. Remember to use all the steps of hypothesis testing.