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