Week 7 Assignment
- What does regression tell us? How is an r value used in regression?
- What is interpolation? What is extrapolation? Why is it dangerous to extrapolate outside the experimental region (the range of your data)?
- Given the following
| Book | Pages (x variable) | Price (y variable) |
| A | 250 | $5.20 |
| B | 317 | $5.95 |
| C | 234 | $4.95 |
| D | 417 | $7.25 |
| E | 301 | $5.95 |
| F | 315 | $6.00 |
| G | 389 | $6.95 |
- Create a scatter diagram which shows the trendline (this is the regression line) and provides the coefficient of determination on the graph itself.
- What is the equation of the trendline from the graph? (Just copy it from your graph)
- According to the equation of the trendline from your graph, if a book had 357 pages, how much should it cost?
- According to the equation of the trendline from your graph, if a book costs $8.50, how many pages should it have?
- In part d, were you interpolating or extrapolating? How do you know? How confident are you that the number of pages would really be what you calculated it to be? Why?
- You are presented with several values for Pearson’s product moment correlation coefficient ( r ). Which one shows the strongest relationship? Why?
- -0.97
- -0.60
- 0.15
- 0.89
- 0.95
- 0
Business Statistics Assignment