2 a Calculate the Correlation Coefficient between the demand

2. (a) Calculate the Correlation Coefficient between the demand and price of IPhones.

demand: 36,23,12,16,14,10,5,2

price:70,80,90,100,110,120,130,140

3.Then, test the significance of the Correlation Coefficient between price and demand using 0.01 significance level.

A factory manufactures three products (see below); using the information below, calculate a prediction of how much will cost to operate a factory based on the numbers of units produced below.

Month

Cost

A Made

B Made  

C made

1

4439

515

541

928

2

43936

929

692

711

3

44464

800

710

824

4

41533

979

675

758

5

46343

1165

1147

635

6

44922

651

939

901

7

43203

847

755

580

8

43000

942

908

589

9

40967

630

738

682

10

48582

1113

1175

1050

Month	Cost	A Made	B Made	C made
1	4439	515	541	928
2	43936	929	692	711
3	44464	800	710	824
4	41533	979	675	758
5	46343	1165	1147	635
6	44922	651	939	901
7	43203	847	755	580
8	43000	942	908	589
9	40967	630	738	682
10	48582	1113	1175	1050

Solution