f) Calculate and interpret the r value in the context of this scenario.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
please send solution for part f only handwritten solution accepted
6. The price of a branded dishwasher tablets varies through the year depending on
promotions etc. A supermarket is interested in the effect of the price change on the
number of sales. They collated a small sample of daily sales data from the last 12
months and the results are displayed in the graph below.
Daily Sales Dishwasher Tablets vs Price
y = -8.46x + 108
R2 = 0.69
80
70
60
50
40
30
20
10
£0.00
£2.00
£4.00
£6.00
£8.00
£10.00
£12.00
Price
a) Perform a visual assessment of the scatterplot and describe the data points
and data pattern.
b) Use the regression equation given above at the right corner of the graph and
state the value for intercept (the constant).
c) Use the regression equation given above at the right corner of the graph and
state the value for slope (the gradient).
d) Use the regression equation and calculate the predicted number of sales
when a dishwasher tablets cost £6.00.
e) State and interpret the r2 value in the context of this scenario.
f) Calculate and interpret the r value in the context of this scenario.
Sales
Transcribed Image Text:6. The price of a branded dishwasher tablets varies through the year depending on promotions etc. A supermarket is interested in the effect of the price change on the number of sales. They collated a small sample of daily sales data from the last 12 months and the results are displayed in the graph below. Daily Sales Dishwasher Tablets vs Price y = -8.46x + 108 R2 = 0.69 80 70 60 50 40 30 20 10 £0.00 £2.00 £4.00 £6.00 £8.00 £10.00 £12.00 Price a) Perform a visual assessment of the scatterplot and describe the data points and data pattern. b) Use the regression equation given above at the right corner of the graph and state the value for intercept (the constant). c) Use the regression equation given above at the right corner of the graph and state the value for slope (the gradient). d) Use the regression equation and calculate the predicted number of sales when a dishwasher tablets cost £6.00. e) State and interpret the r2 value in the context of this scenario. f) Calculate and interpret the r value in the context of this scenario. Sales
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Linear Equations
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman