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Find the line that best fit

Assignment Help Basic Statistics
Reference no: EM132465041

Problem:

(year and sales)

-iphone 3GS (2009)- $20.73 mil

-iphone 4 (2010)- $39.99 mil

-iphone 4s (2011)-$72.3 mil

-iphone 5 (2012)- $125.04 mil

-iphone 5s & 5C (2013)- $150.26 mil

-iphone 6&6plus (2014)-$169.22 mil

-iphone 6s &6s plus (2015)- $231.22

-iphone 7&7plus (2016)- $211.88 mil

-iphone 8 & 8plus & iphone X (2017) -$216.76 mil

-iphone XS & XS max & XR (2018) - $217.72 mil

  1. Plot the points (x,y) to obtain scatterplot
  2. Find the line that best fit (regression line) and graph it on the scatterplot state the equation of the line
  3. State the slope of the line of best fit (carefully interpret the meaning of the slope
  4. Find and state the value of r^2, the coefficent of determination, and r, the correlation coefficient. is r positive or negative? why? is a line a good curve to fit to this data? why or why not? is the linear relationship very strong, moderately strong, weak, or nonexistent?
  5. Choose a value of interest and use the line best fit to make an estimate or prediction. show calculation work.

Reference no: EM132465041

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