Question

please answer the folllowing by using the dataset. provide computerised answer

Using The Quantity and Prices Data set generate the following 1. Generate Correlation Coefficient and discuss 2. Generate the trend for dependent variable and discuss 3. Generate the specific function 4. Explain R-Square 5. Explain, in detail, the relationship between the independent variable and the dependent variable 24.9 28.6 31.2 29.8 35.7 29.8 32.6 30, 39.5 30.8 30,9 43.2 45.3 31.4 55.8 31.9 32.3 55.6 48.9 33.3 34,3 58.2 58.5 35.7 49.2 37.5 39.5 62.7 67.7 39.9 74.7 41.2 45.8 64.6 50.1 60.8 75.5 55.1 87.2 59.0 89.6 61.7 70.5 81.4 83. 62.3 93.2 61.6 59.1 97.0 99.3 74.3 89.4 103.7 95.4 106.4 102.3 97.5 100.7 105.4 108.7 107.1 108.9 114. 100,9 120.5 123.8 90.3 100 126,5 112.4 130.4 125.4 134.3 139.1 126.3 143.0 128.5 144.3 135.9 140,8 141.6 152.6 144.4 ymquantity sold x-price per unit

Answer 1

Correlation Coefficient:

r = 0.90

write a formula "=CORREL("Array1,Array2)" in excel and get the correlation coefficient value in excel

fix F4 X -CORREL(A2:A43,B2:B43) A C D E H 1 X Y 28.6 24.9 2 29.8 31.2 Correlation Coeff 4 29.8 35.7 0.90 5 30.1 32.6 6 30.8 39.5 7 30.9 43.2 8 31.4 45.3 31.9 55.8 10 32.3 55.6 48.9 11 33.3 58.2 12 34.3 13 35.7 58.5 14 37.5 49.2 15 39.5 62.7 16 39.9 67.7 17 41.2 74.7 18 45.8 64.6 19 50.1 60.8 75.5 20 55.1 21 59 87.2

Generate the trend for dependent variable and discuss and specific  function

Select X and Y data in excel and go to insert tab and choose scatter diagram in he chart area. Right click any data point in the chart and choose "Add trend line" option. Select Linear as trend

o P KY 0.6926x+25.426 7 + O

The trend for dependent variable is perfect positive linear trend . Linear Regression is the specific function

R-Squared:

A C M Format Trendline X 14 37.5 49. 15 39.5 Trendline Options 17 XY 41.2 74.7 18 45.8 64.6 y 0.6926x+25.426 R2 0.8163 19 50.1 60.8 Trendline Options 59 87.2 141 Exponential 22 61.7 89.6 121 O Linear 23 70.5 81.4 100 ac O Logarithmic 93 2 616 26 97 99.3 59.1 olynomial 27 74.3 Order 1с 28 103 20 Pawer 102.3 97.5 100.7 30 411 Period 2 31 105 4 32 108.7 107.1 Trendline Name Linear ( 120.5 100 9 Automatic 25 123.8 90.3 ustonm 36 126.5 100 Com 37 130.4 112.4 Forward perinds 0.0 139 1 126 3 Backward periods 143 128.5 40 Set Intercept 0. 41 144.3 135.9 Display Cquation on chart 42 141.8 140.8 Display B squared value on chart 11

Relationship:

The relationship between dependent and independent variable shows positive linear relationship