| Question |
|---|
| Question No. 1: ZIMS store sells its products on installments in Karachi. The store decided to investigate the link between the life of the product and the cost. The data collected from store is shown in Table 1.1: Table 1.1 LIFE OF PRODUCT (Years) COST (Thousand Rupees) 3.0 25 3.5 28 4.0 32 4.5 34 5.0 34 3.0 30 5.5 40 4.5 40 4.0 42 3.5 42 6.0 50 7.5 50 8.0 53 8.5 55 a) Plot a scatter chart from the above data. b) Find the equation of the least square regression line in the form y = a + bx. Given the value of a ??? b up to 3 decimal places. c) What are the exact interpretations of the estimated regression factors? d) Using your answer of part (b). Find the cost predicted by the regression line for 5 year’s life of a product. |
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
