Finding meaning of coefficient of determination

Reference no: EM1320696

Q1) Large mail-order house believes that there is linear relationship between weight of mail it gets and number of orders to be filled. It would like to investigate relationship to forecast the number of orders, based on weight of the mail. From operational prospective, knowledge of number of orders will help in planning of order fulfilment process. Sample of 25 mail shipments is selected that range from 200 to 700 pounds.

Weight of Mail(pounds)	Orders (Thousands)
216	6.1
283	9.1
237	7.2
203	7.5
259	6.9
374	11.5
342	10.3
301	9.5
365	9.2
384	10.6
404	12.5
426	12.9
482	14.5
432	13.6
409	12.8
553	16.5
572	17.1
506	15
528	16.2
501	15.8
628	19
677	19.4
602	19.1
630	18
652	20.2

i) Create a scattered plot

ii) Suppose a linear relationship, use least-squares method to determine the regression coefficients, b₀ and b₁

iii) Interpret meaning of the slope, b₁, in this problem

iv) Forecast mean number of orders when weight of the mail is 500 pounds

v) Find out the coefficient of determination, r², and interpret its meaning.

Reference no: EM1320696

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