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Compute the coefficient of determination

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Reference no: EM132432485

Problem: Assume you have noted the following prices for paperback books and the number of pages that each book contains.

Develop a least-squares estimated regression line.

Book Pages (x) Pricw (Y)

A 500 7.00

B 700 7.50

C 750 9.00

D 590 6.50

E 540 7.50

F 650 7.00

G 480 4.50

Required:

Question 1: Compute the coefficient of determination and explain its meaning.

Question 2: Compute the correlation coefficient between the price and the number of pages. Test to see if x and y are related. Use α = 0.10.

Reference no: EM132432485

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