Assume you have noted the following prices for paperback books and the number of pages that each book contains. Вook Pages (x variable) 525 615 Price (y variable) $7.10 $8.25 $7.75 $9.50 $7.55 $8.00 $6.95 550 675 530 600 487 Create a scatter diagram which shows the trendline (this is the regression line) and provides the coefficient of determination. Reminder, Week 1 hints in the discussion showed how to make a scatter diagram. Also, this is a graph. It needs to have a title which shows both variables and labeled axes. 2. 1. Define coefficient of determination (r squared). What value does the graph show? What does this figure tell you? 3. Define Pearson's Product Moment Correlation Coefficient (r). What number is it for this graph? What does this number tell you about how well the data fits the trend? 4. What is the equation of the trendline from the graph? 5. According to the equation of the trendline from your graph, if a book had 650 pages, how much should it cost? 6. According to the equation of the trendline from your graph, if a book cost $8.62, how many pages should it have? 7. Conduct a full hypothesis test in the p-value method to determine if x and y are related. In other words, is there a relationship between the number of pages in the book and the price you pay for it? Use a = 0.05. Remember to use all the steps of hypothesis testing as outlined in Week 6. I recommend using the template like in the Week 6 Assignment, #2.
Assume you have noted the following prices for paperback books and the number of pages that each book contains. Вook Pages (x variable) 525 615 Price (y variable) $7.10 $8.25 $7.75 $9.50 $7.55 $8.00 $6.95 550 675 530 600 487 Create a scatter diagram which shows the trendline (this is the regression line) and provides the coefficient of determination. Reminder, Week 1 hints in the discussion showed how to make a scatter diagram. Also, this is a graph. It needs to have a title which shows both variables and labeled axes. 2. 1. Define coefficient of determination (r squared). What value does the graph show? What does this figure tell you? 3. Define Pearson's Product Moment Correlation Coefficient (r). What number is it for this graph? What does this number tell you about how well the data fits the trend? 4. What is the equation of the trendline from the graph? 5. According to the equation of the trendline from your graph, if a book had 650 pages, how much should it cost? 6. According to the equation of the trendline from your graph, if a book cost $8.62, how many pages should it have? 7. Conduct a full hypothesis test in the p-value method to determine if x and y are related. In other words, is there a relationship between the number of pages in the book and the price you pay for it? Use a = 0.05. Remember to use all the steps of hypothesis testing as outlined in Week 6. I recommend using the template like in the Week 6 Assignment, #2.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Concept explainers
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Question
Transcribed Image Text:Assume you have noted the following prices for paperback books and the number of
pages that each book contains.
Book
Pages (x variable)
525
Price (y variable)
$7.10
$8.25
$7.75
$9.50
$7.55
$8.00
$6.95
615
550
675
530
600
487
1.
Create a scatter diagram which shows the trendline (this is the regression line) and provides the coefficient of
determination. Reminder, Week 1 hints in the discussion showed how to make a scatter diagram. Also, this is
a graph. It needs to have a title which shows both variables and labeled axes.
2.
Define coefficient of determination (r squared). What value does the graph show? What does this figure tell
you?
3.
Define Pearson's Product Moment Correlation Coefficient (r). What number is it for this graph? What does
this number tell you about how well the data fits the trend?
What is the equation of the trendline from the graph?
5. According to the equation of the trendline from your graph, if a book had 650 pages, how much should it cost?
6. According to the equation of the trendline from your graph, if a book cost $8.62, how many pages should it
have?
4.
Conduct a full hypothesis test in the p-value method to determine if x and y are related. In other words, is
there a relationship between the number of pages in the book and the price you pay for it? Use a = 0.05.
Remember to use all the steps of hypothesis testing as outlined in Week 6. I recommend using the template
like in the Week 6 Assignment, #2.
7.
ABCDEFG
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