This table shows the relationship between the price (y pence) of 100g of chocolate and the percentage (x%) of cocoa solids in the chocolate. x (% сосоа) 10 у (pence) 35 Chocolate Brand A 20 55 30 40 35 100 E 40 60 F 50 90 G 60 110 H 70 130 a. Use excel to draw a scatter diagram to represent this data. b. Use excel to calculate the regression line of y on x. c. Use excel to calculate the R?. d. Interpret the meaning of R?. e. One brand of chocolate is overpriced, Suggest, with a reason, which brand is overpriced. f. Use the regression line to suggest a fair price for this brand. g. Comment on the validity of this method for suggesting a fair price.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Question

Please solve d,e,f,g

This table shows the relationship between the price (y pence) of 100g of chocolate and the
percentage (x%) of cocoa solids in the chocolate.
Chocolate Brand
х (% сосоа)
у (pence)
A
10
35
В
20
55
30
40
35
100
40
60
50
90
60
110
70
130
a. Use excel to draw a scatter diagram to represent this data.
b. Use excel to calculate the regression line of y on x.
c. Use excel to calculate the R2.
d. Interpret the meaning of R².
e. One brand of chocolate is overpriced, Suggest, with a reason, which brand is overpriced.
f. Use the regression line to suggest a fair price for this brand.
g. Comment on the validity of this method for suggesting a fair price.
<BCDEEGH
Transcribed Image Text:This table shows the relationship between the price (y pence) of 100g of chocolate and the percentage (x%) of cocoa solids in the chocolate. Chocolate Brand х (% сосоа) у (pence) A 10 35 В 20 55 30 40 35 100 40 60 50 90 60 110 70 130 a. Use excel to draw a scatter diagram to represent this data. b. Use excel to calculate the regression line of y on x. c. Use excel to calculate the R2. d. Interpret the meaning of R². e. One brand of chocolate is overpriced, Suggest, with a reason, which brand is overpriced. f. Use the regression line to suggest a fair price for this brand. g. Comment on the validity of this method for suggesting a fair price. <BCDEEGH
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