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1. The demand and price of a product is given in the following table: Price (Tk.) Demand (kg) 23 35 40 45 44 50 55 72 12.5 8.6 9.4 7.5 4.5 4 2 a. Find the relationship between demand and price using a scatter diagram and comment (interpret). b. Find correlation coefficient and comment. c. Fit a least square regression equation (line) of demand on price and comment. d. What will be the demand when the price is Tk. 38 and Tk. 15? e. Find coefficient of determination (how well the regression line is fitted).

1. The demand and price of a product is given in the following table: Price (Tk.) Demand (kg) 23 35 40 45 44 50 55 72 12.5 8.6 9.4 7.5 4.5 4 2 a. Find the relationship between demand and price using a scatter diagram and comment (interpret). b. Find correlation coefficient and comment. c. Fit a least square regression equation (line) of demand on price and comment. d. What will be the demand when the price is Tk. 38 and Tk. 15? e. Find coefficient of determination (how well the regression line is fitted).

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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1. The demand and price of a product is given in the following table: Price (Tk.) Demand (kg) 23 35 40 45 44 50 55 72 12.5 8.6 9.4 7.5 5 4.5 4 2 a. Find the relationship between demand and price using a scatter diagram and comment (interpret). b. Find correlation coefficient and comment. c. Fit a least square regression equation (line) of demand on price and comment. d. What will be the demand when the price is Tk. 38 and Tk. 15? e. Find coefficient of determination (how well the regression line is fitted).
Transcribed Image Text:1. The demand and price of a product is given in the following table: Price (Tk.) Demand (kg) 23 35 40 45 44 50 55 72 12.5 8.6 9.4 7.5 5 4.5 4 2 a. Find the relationship between demand and price using a scatter diagram and comment (interpret). b. Find correlation coefficient and comment. c. Fit a least square regression equation (line) of demand on price and comment. d. What will be the demand when the price is Tk. 38 and Tk. 15? e. Find coefficient of determination (how well the regression line is fitted).
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