Dean made a statistical estimation of the cost-output relationship for a shoe store. The data for the firm is given in the following table. x 4.5 7 9 10 15 20 33 50 y 3 3.3 3.4 3.5 4.5 5.5 7.5 12 Here x is the output in thousands of pairs of shoes, and y is the cost in thousands of dollars. A. Determine the best-fitting line (using least squares). S1(x) = r2 = B. Determine the best-fitting quadratic (using the least squares) and the square of the correlation coefficient. S2(x) =
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Dean made a statistical estimation of the cost-output relationship for a shoe store. The data for the firm is given in the following table.
| x | 4.5 | 7 | 9 | 10 | 15 | 20 | 33 | 50 |
| y | 3 | 3.3 | 3.4 | 3.5 | 4.5 | 5.5 | 7.5 | 12 |
Here x is the output in thousands of pairs of shoes, and y is the cost in thousands of dollars.
A. Determine the best-fitting line (using least squares).
S1(x) =
r2 =
B. Determine the best-fitting quadratic (using the least squares) and the square of the
S2(x) =
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