Subject :- Use the following information to answer the next two exercises. The cost of a leading liquid laundry detergent in different sizes is given in Table...
Question :- Use the following information to answer the next two exercises. The cost of a leading liquid laundry detergent in different sizes is given in Table 12.31. Size (ounces) Cost ($) Cost per ounce 16 3.99 32 4.99 64 5.99 200 10.99 82. a. Using ?size? as the independent variable and ?cost? as the dependent variable, draw a scatter plot. b. Does it appear from inspection that there is a relationship between the variables? Why or why not? c. Calculate the least-squares line. Put the equation in the form of: ? = a + bx d. Find the correlation coefficient. Is it significant? e. If the laundry detergent were sold in a 40-ounce size, find the estimated cost. f. If the laundry detergent were sold in a 90-ounce size, find the estimated cost. g. Does it appear that a line is the best way to fit the data? Why or why not? h. Are there any outliers in the given data? i. Is the least-squares line valid for predicting what a 300-ounce size of the laundry detergent would you cost? Why or why not? j. What is the slope of the least-squares (best-fit) line? Interpret the slope.
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