The following are advertised sale prices of color televisions at Anderson’s:
| Size (inches) | Sale Price ($) |
| 9 | 147 |
| 20 | 197 |
| 27 | 297 |
| 31 | 447 |
| 35 | 1,177 |
| 40 | 2,177 |
| 60 | 2,497 |
- Decide which variable should be the independent variable and which should be 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?
- Find the estimated sale price for a 32-inch television. Find the cost for a 50-inch television.
- Does it appear that a line is the best way to fit the data? Why or why not?
- Are there any outliers in the data?
- What is the slope of the least-squares (best-fit) line? Interpret the slope.
OpenStax Statistics, 12.5 Outliers, exercise 26