The cost of a leading liquid laundry detergent in different sizes is given below.Size (ounces)Cost ($)Cost per ounce163.19 324.39 645.59 20010.99 Part (a)Using "size" as the independent variable and "cost" as the dependent variable, make a scatter plot. Part (b)Does it appear from inspection that there is a relationship between the variables? Why or why not?Yes, it appears that cost increases with size.No, there is no visible relationship between the variables. Part (c)Calculate the least squares line. Put the equation in the form of: ŷ = a + bx. (Round your answers to three decimal places.)ŷ = + xPart (d)Find the correlation coefficient r. (Round your answer to four decimal places.)r = Is it significant?Yes or No ? Part (e)If the laundry detergent were sold in a 40-ounce size, find the estimated cost. (Use your equation from part (c). Round your answer to two decimal places.)$ Part (f)If the laundry detergent were sold in an 82-ounce size, find the estimated cost. (Use your equation from part (c). Round your answer to two decimal places.)$ Part (g)Use the two points in parts (e) and (f) to plot the least squares line. Show the pointsPart (h)Does it appear that a line is the best way to fit the data? Why or why not?A line is the best way to fit the data because there seems to be a relationship between the variables.A line is not the best way to fit the data because when you purchase double the amount of detergent, the cost does not double. A line is the best way to fit the data because the data follow an almost perfect positive linear trend.A line is not the best way to fit the data because it should touch each data value in the scatter diagram.Part (i)Are there any outliers in the above data?Select the followingYes, (16, 3.19) is an outlier.Yes, (200, 10.99) is an outlier. Yes, (16, 3.19) and (200, 10.99) are outliers.No, there are no outliers.Part (j)Is the least squares line valid for predicting what a 300-ounce size of the laundry detergent would cost? Why or why not? Select the following?The least squares line is valid for predicting what a 300-ounce container of laundry detergent would cost because all equations can be used to make predictions.The least squares line is valid for predicting the cost of a 300-ounce container of detergent because it is possible to purchase 300 ounces. The least squares line is not valid for predicting the cost of a 300-ounce container of detergent because 300 ounces is beyond the range of x-values.The least squares line is not valid for predicting the cost of a 300-ounce container of detergent because the cost would be unreasonable.Part (k)What is the slope of the least squares (best-fit) line? (Round your answer to three decimal places.)Interpret the slope.Select the followingAs the cost of liquid laundry detergent increases by $1, the detergent size increases by this many ounces.As the number of ounces increases by one, the cost of the liquid laundry detergent increases by this many dollars.

Answered: The cost of a leading liquid laundry…

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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Size (ounces)	Cost ($)	Cost per ounce
16	3.19
32	4.39
64	5.59
200	10.99

Part (b)

Does it appear from inspection that there is a relationship between the variables? Why or why not?

Yes, it appears that cost increases with size.
No, there is no visible relationship between the variables.

Part (c)

Calculate the least squares line. Put the equation in the form of:
ŷ = a + bx.
(Round your answers to three decimal places.)
ŷ = + x
Part (d)

Find the correlation coefficient r. (Round your answer to four decimal places.)
r =

Is it significant?
Yes or No ?
Part (e)

If the laundry detergent were sold in a 40-ounce size, find the estimated cost. (Use your equation from part (c). Round your answer to two decimal places.)
$
Part (f)

If the laundry detergent were sold in an 82-ounce size, find the estimated cost. (Use your equation from part (c). Round your answer to two decimal places.)
$
Part (g)

Use the two points in parts (e) and (f) to plot the least squares line. Show the points

Part (h)

Does it appear that a line is the best way to fit the data? Why or why not?

A line is the best way to fit the data because there seems to be a relationship between the variables.
A line is not the best way to fit the data because when you purchase double the amount of detergent, the cost does not double.
A line is the best way to fit the data because the data follow an almost perfect positive linear trend.
A line is not the best way to fit the data because it should touch each data value in the scatter diagram.

Part (i)

Are there any outliers in the above data?Select the following

Yes, (16, 3.19) is an outlier.
Yes, (200, 10.99) is an outlier.
Yes, (16, 3.19) and (200, 10.99) are outliers.
No, there are no outliers.

Part (j)

Is the least squares line valid for predicting what a 300-ounce size of the laundry detergent would cost? Why or why not? Select the following?

The least squares line is valid for predicting what a 300-ounce container of laundry detergent would cost because all equations can be used to make predictions.
The least squares line is valid for predicting the cost of a 300-ounce container of detergent because it is possible to purchase 300 ounces.
The least squares line is not valid for predicting the cost of a 300-ounce container of detergent because 300 ounces is beyond the range of x-values.
The least squares line is not valid for predicting the cost of a 300-ounce container of detergent because the cost would be unreasonable.

Part (k)

What is the slope of the least squares (best-fit) line? (Round your answer to three decimal places.)

Interpret the slope.Select the following

As the cost of liquid laundry detergent increases by $1, the detergent size increases by this many ounces.
As the number of ounces increases by one, the cost of the liquid laundry detergent increases by this many dollars.

Expert Solution

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Since you have posted a question with multiple sub parts, we will solve first 3 sub parts for you. To get remaining sub parts solved, please repost the complete question and mention the sub parts to be solved.

Let X be the size as independent variable and

Y be the cost as dependent variable

n= number of observations = 4

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