Cost of a leading liquid laundry detergent

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Reference no: EM132195713

The cost of a leading liquid laundry detergent in different sizes is given below.

Size (ounces)  Cost ($) 

16  3.89

32  4.69

64  5.69

200 10.59

a. Calculate the least squares line. Put the equation in the form of: y = a + bx. (Round your answers to three decimal places.)

y =___+___ x

b. Find the correlation coefficient r. (Round your answer to four decimal places.) r =___

c. If the laundry detergent were sold in a 30-ounce size, find the estimated cost. (Use your equation from part (c). Round your answer to two decimal places.) $____

d. If the laundry detergent were sold in an 90-ounce size, find the estimated cost. (Use your equation from part (c). Round your answer to two decimal places.) $____ 

e. What is the slope of the least squares (best-fit) line? (Round your answer to three decimal places.)

f. Interpret the slope. (Round your answer to three decimal places.)

As the number of ounces cost number of ounces of liquid laundry detergent increases by one unit, the detergent costs size cost increases by  _____ dollars

Reference no: EM132195713

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