textbook cost is one expense that university students often complain about is the size of the book( measured by the number of pages) related to the price of the book( in dollars)
output and the graph has been posted in the picture.
Q-1 based on the scatterplot, what can you say about the relationship between pages and price?
Q-2 state the regression equation relating predicted price and pages
Q-3 use the regression equation to find the predicted price y for observation 4 ( a book with 400 pages)
Q-4 calculate the residual for observation 4
Q-5 interpret the slope in the context of problem
Q-6 interpret the slope in the context of the problem
Homework Answers
Q-1 based on the scatterplot, what can you say about the relationship between pages and price?
Answer : Here as we can see that there is a positive linear relationship between pages and price.
Q-2 state the regression equation relating predicted price and pages.
Answer : Regression equation between predicted price (y^) and pages (x) is
y^ = -3.4 + 0.1473 x
Q-3 use the regression equation to find the predicted price y for observation 4 ( a book with 400 pages)
Answer : y^ = -3.4 + 0.1473 * 400 = $ 55.51
Q-4 calculate the residual for observation 4
Answer : Residual = 72.99 (as given)
Q-5 interpret the slope in the context of problem
Here the slope is when we increase the pages of a book by 1 page, it will increase the predicted price by $ 0.1473.
Q-6 interpret the slope in the context of the problem.
Here for intercept, it means that for a book with no page, it will cost us negatie -3.4
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