Answered: Energy drinks come in different-sized…

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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Question

Energy drinks come in different-sized packages: pouches,
small bottles, large bottles, twin-packs, 6-packs, and so
on. How is the price related to the amount of beverage?
Data collected on a variety of packages revealed a
mean size of 140.17 ounces with a standard deviation
of 78.23 ounces. The packages had an average price of

$3.66 with a standard deviation of $1.50, and the correla-
tion between size and price was r = 0.91. A scatterplot

of these data suggested that the assumptions needed for
regression were reasonable.
a) Interpret the value of r in context.
b) Compute the slope of the least-squares regression line
for predicting the price of an energy drink. Include
the proper units in your answer.
c) Write the equation for the least-squares regression
line for these data.
d) For this model the standard deviation of the
residuals was s = 0.26. Explain what that means in
context.

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