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The Editor of a Major Academic Book Publisher Claims That

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The editor of a major academic book publisher claims that a large part of the cost of books is the cost of paper. This implies that larger books will cost more money. As an experiment to analyse the claim, a university student visits the bookstore and records the number of pages and the selling price of 12 randomly selected books. These data are listed below.  Book  Number of pages  Selling price ($)1844552727503360354915605295306706507410408905539105865108655411677421291258\begin{array} { | c | c | c | } \hline \text { Book } & \text { Number of pages } & \text { Selling price } ( \$ ) \\\hline 1 & 844 & 55 \\\hline 2 & 727 & 50 \\\hline 3 & 360 & 35 \\\hline 4 & 915 & 60 \\\hline 5 & 295 & 30 \\\hline 6 & 706 & 50 \\\hline 7 & 410 & 40 \\\hline 8 & 905 & 53 \\\hline 9 & 1058 & 65 \\\hline 10 & 865 & 54 \\\hline 11 & 677 & 42 \\\hline 12 & 912 & 58 \\\hline\end{array} Draw a scatter diagram of the data and plot the least squares regression line on it.

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Definitions:

External Adaptation

The process by which an organization adjusts its strategies, goals, and processes in response to changes in its external environment.

Top Managers

Senior executives responsible for the strategic direction and overall success of an organization, typically including roles such as CEO, CFO, and COO.

Strong Cultures

Strong cultures are organizational environments characterized by shared beliefs, values, and practices that strongly influence member behavior and contribute to organizational coherence.

Management Philosophy

An underlying set of principles and beliefs that guide the approaches, practices, and decisions of managers within an organization.

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