- Complete the table for the cost per ounce of the different sizes of laundry detergent.
- Using size as the independent variable and cost per ounce as the dependent variable, draw a scatter plot of the data.
- Does it appear from inspection that there is a relationship between the variables? Why or why not?
- Calculate the least-squares line. Put the equation in the form ŷ = a + bx.
- Find the correlation coefficient. Is it significant?
- If the laundry detergent were sold in a 40 oz. size, what is the estimated cost per ounce?
- If the laundry detergent were sold in a 90 oz. size, what is the estimated cost per ounce?
- Does it appear that a line is the best way to fit the data? Why or why not?
- Are there any outliers in the the data?
- Is the least-squares line valid for predicting what a 300 oz. size of the laundry detergent would cost per ounce? Why or why not?
- What is the slope of the least-squares (best-fit) line? Interpret the slope.
OpenStax Statistics, 12.5 Outliers, exercise 24