An LCBO employee compares the relationship between the price of 6 different vintage bottles of wine, and the number of those bottles that have been purchased in the last 3 months to see if there is a correlation between the number of bottles purchased and the price of the bottle. Number of Bottles of Wine Purchased in the Price of Wine Bottle ($) Last 3 month 44 18 93 65 82 56 25 60 15 30 20 40

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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An LCBO employee compares the relationship between the price of 6 different vintage
bottles of wine, and the number of those bottles that have been purchased in the last
3 months to see if there is a correlation between the number of bottles purchased and
the price of the bottle.
Number of Bottles of
Wine Purchased in the Price of Wine Bottle ($)
Last 3 month
44
18
93
65
82
56
25
60
15
30
20
40
Transcribed Image Text:An LCBO employee compares the relationship between the price of 6 different vintage bottles of wine, and the number of those bottles that have been purchased in the last 3 months to see if there is a correlation between the number of bottles purchased and the price of the bottle. Number of Bottles of Wine Purchased in the Price of Wine Bottle ($) Last 3 month 44 18 93 65 82 56 25 60 15 30 20 40
i. Determine the equation of the line of best fit.
ŷ
E+
=x
Round answers to 3 significant digits.
=
ii. Calculate the Total Variation (SST), Explained Variation (SSR), and Unexplained
Variation (SSE).
SST =
SSR=
SSE =
Round answers to 2 decimal places.
iii. Based on your results from part (ii), calculate the coefficient of determination (R²).
R²
=
Transcribed Image Text:i. Determine the equation of the line of best fit. ŷ E+ =x Round answers to 3 significant digits. = ii. Calculate the Total Variation (SST), Explained Variation (SSR), and Unexplained Variation (SSE). SST = SSR= SSE = Round answers to 2 decimal places. iii. Based on your results from part (ii), calculate the coefficient of determination (R²). R² =
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