The Sample Data Below Are the Typing Speeds (In Words

question 12

Essay

The sample data below are the typing speeds (in words per minute) and reading speeds (in words per minute) of nine randomly selected secretaries. Here, x denotes typing speed, and y denotes reading speed.
$$\begin{array} { l l l l l l l l l l } \hline \mathrm { x } & 60 & 56 & 52 & 63 & 70 & 58 & 44 & 79 & 62 \\\hline \mathrm { y } & 370 & 551 & 528 & 348 & 645 & 454 & 503 & 618 & 500 \\\hline\end{array}$$
The regression equation $\hat { y } = 290.2 + 3.502 \mathrm { x }$ was obtained. Construct a residual plot for the data.

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Definitions:

Amount Collected

The total money received or gathered from various sources, such as payments or sales.

Direct Materials Purchases

The acquisition of raw materials that are directly incorporated into a finished product during the manufacturing process.

Budgeted Cash Disbursements

An estimation of all cash payments that a business expects to make over a specified period, often part of a cash flow forecast or budget.

Wages Expense

The total amount of monetary compensation paid to employees for services rendered during a specific period.