Chapter 12, Problem 83BITH

The following are advertised sale prices of color televisions at Anderson’s.

Size (inches)	Sale Price ($)
9	147
20	197
27	297
31	447
35	1177
40	2177
60	2497

Table 12.33a. Decide which variable should be the independent variable and which should be the dependent variable.

b. Draw a scatter plot of the data.

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

d. Calculate the least-squares line. Put the equation in the form of: $\hat{y}\text{=}a+bx$

e. Find the correlation coefficient. Is it significant?

f. Find the estimated sale price for a 32 inch television. Find the cost for a 50 inch television.

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

h. Are there any outliers in the data?

i. What is the slope of the least-squares (best-fit) line? Interpret the slope.