+8 The following data represent the number of Pen drives sold per day at a local
computer shop and their daily average sales prices after bargain. (10 marks)
Price of each pen drive (x) Units Sold (y)
INR 340 3
360 4
320 6
350 5
300 9
380 2
400 1
Develop a least-squares regression line and explain what the slope of the line
indicates.
Compute the coefficient of determination and comment on the
strength of relationship between x and y.
+128408
The least squares line is :
y = -0.0736x+29.9734
The slope indicates (generally) that as the price increases, the number of units sold decreases
The correlation coefficient, r, is : -0.927709243408
The coefficient of determination = r^2 ≈ .86.....I believe this means that the dependent variable can be strongly predicted from the independent variable
A method for calculating the regression line can be fond here :
https://www.easycalculation.com/analytical/learn-least-square-regression.php
