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)|
- 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?
Business Statistics Assignment