Given the Following Sample Data

question 72

Essay

Given the following sample data:

a.
Calculate the covariance and the correlation coefficient.
b.
Comment on the relationship between x and y.
c.
Determine the least squares line.
d.
Draw the scatter diagram and plot the least squares line.

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Definitions:

Credit Entries

Accounting entries that increase liability or equity accounts or decrease asset or expense accounts.

Cash Account

An account recording all transactions involving cash inflows and outflows.

Owner's Capital

The amount of money and other assets owned by the owner of a company that has been invested in the business.

Net Loss

Occurs when a company's total expenses exceed its total revenues during a specific period, resulting in negative earnings.