The selling price of an item is $390. After 6 months of not selling, it is marked down by 10%. After another 6 months of not
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Answer:
a)
The correlation coefficient for this case is very near to 1 so then we can ensure that we have linear correlation between the two variables
b)
Now we can find the means for x and y like this:
So the line would be given by:
Step-by-step explanation:
Part a
The correlation coeffcient is given by this formula:
For our case we have this:
n=4
The correlation coefficient for this case is very near to 1 so then we can ensure that we have linear correlation between the two variables
Part b
Where:
With these we can find the sums:
And the slope would be:
Now we can find the means for x and y like this:
And we can find the intercept using this:
So the line would be given by: