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  3. the following data represent the number of flash d

The following data represent the number of flash drives sold per day at a local computer shop...

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Basic Math

The following datarepresent the number of flash drives sold per day at a localcomputer shop and their prices.

Price (x) Units Sold(y)
$34               4
36                 4
32    6
35                 5
31                 9
38                 2
39                 1

You may use Excel forsolving this problem.

  1. Compute the sample correlationcoefficient between the price and the number of flash drivessold.
  2. Develop a least-squaresestimated regression line.
  3. Compute the coefficient ofdetermination and explain its meaning.
  4. Test to see if x and y aresignificantly related. Use a significance level of ? = 0.01.

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