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The Following Data Represent the Number of Flash Drives Sold

question 110

Essay

The following data represent the number of flash drives sold per day at a local computer shop and their prices.  Price (x) Units Sold (y)$343364326355309382401\begin{array}{l}\text { Price } ( x ) \quad \text { Units Sold } ( y )\\\begin{array} { l l } \$ 34 & 3 \\36 & 4 \\32 & 6 \\35 & 5 \\30 & 9 \\38 & 2 \\40 & 1\end{array}\end{array}
​a.Develop a least squares regression line and explain what the slope of the line indicates.
b.Compute the coefficient of determination and comment on the strength of relationship between x and y.


Definitions:

Segmented Bar Chart

A visual representation of categorical data divided into sub-parts to show how different sections contribute to a whole.

Stacked Bar Chart

A graphical representation of data where different bars are placed on top of each other to show the total of various categories.

Cost of Living

The amount of money needed to sustain a certain standard of living, including basic expenses such as housing, food, taxes, and healthcare.

Bar Chart

A diagram that uses rectangular bars to show quantities or numbers so that they can be easily compared.

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