12. A supermarket chain performed a survey to help determine desirable locations for new stores. The management of the chain wanted to know whether a linear relationship exists between weekly take-home pay and weekly food expenditures. A random sample of 8 households produced the data shown in the accompanying table. Family 1 2 3 4 5 6 7 8 Your answer Weekly Take-Home Pay 300 200 270 180 250 360 225 340 Your answer Weekly Food Expenditures 160 110 a. Using a scatter plot, does there seem to be a linear relationship between weekly take-home pay and weekly food expenditures? b. Compute the correlation coefficient and INTERPRET. * 150 90 130 200 120 180 c. What is a reasonable choice for the dependent and independent variables. Why? S .S

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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IMPORTANT NOTE: You may use excel to answer. Final computed values should be ROUNDED OFF TO THREE DECIMAL
Find the equation of the regression line.
d. What is the value of the intercept? *
Your answer
e. What is the value of b1? *
Your answer
f. Write the equation in the stylized form. *
Your answer
g. Interpret the coefficients of the estimated regression line. *
Your answer
h. What is the R-square of the model? Interpret. *
Your answer
t
t
IS
is
Transcribed Image Text:Find the equation of the regression line. d. What is the value of the intercept? * Your answer e. What is the value of b1? * Your answer f. Write the equation in the stylized form. * Your answer g. Interpret the coefficients of the estimated regression line. * Your answer h. What is the R-square of the model? Interpret. * Your answer t t IS is
12. A supermarket chain performed a survey to help determine desirable locations
for new stores. The management of the chain wanted to know whether a linear
relationship exists between weekly take-home pay and weekly food expenditures. A
random sample of 8 households produced the data shown in the accompanying
table.
Family
1
2
3
4
5
6
7
8
Your answer
Weekly Take-Home Pay
300
200
Your answer
270
180
250
360
225
340
a. Using a scatter plot, does there seem to be a linear relationship
between weekly take-home pay and weekly food expenditures?
Weekly Food Expenditures
160
110
150
90
130
b. Compute the correlation coefficient and INTERPRET. *
Your answer
200
120
180
c. What is a reasonable choice for the dependent and independent
variables. Why?
.S
.S
Transcribed Image Text:12. A supermarket chain performed a survey to help determine desirable locations for new stores. The management of the chain wanted to know whether a linear relationship exists between weekly take-home pay and weekly food expenditures. A random sample of 8 households produced the data shown in the accompanying table. Family 1 2 3 4 5 6 7 8 Your answer Weekly Take-Home Pay 300 200 Your answer 270 180 250 360 225 340 a. Using a scatter plot, does there seem to be a linear relationship between weekly take-home pay and weekly food expenditures? Weekly Food Expenditures 160 110 150 90 130 b. Compute the correlation coefficient and INTERPRET. * Your answer 200 120 180 c. What is a reasonable choice for the dependent and independent variables. Why? .S .S
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