The price of a particular brand of jeans has a mean of $37.9…
The price of a particular brand of jeans has a mean of $37.99 and a standard deviation of $7. A sample of 49 pairs of jeans is selected. Use Excel to answer the following questions:a.What is the probability that the sample of jeans will have a mean price less than $40?b.What is the probability that the sample of jeans will have a mean price between $38 and $39?c.What is the probability that the sample of jeans will have a mean price within $3 of the population mean?
Read DetailsThe following data represent the number of flash drives sold…
The following data represent the number of flash drives sold per day at a local computer shop and their prices:Price (x)Units Sold (y)$343 364 326 355 309 382 401a.Develop a least squares regression line and explain what the slope of the line indicates.b.Compute the coefficient of determination and comment on the strength of relationship between x and y. c.Compute the sample correlation coefficient between the price and the number of flash drives sold. Use α = 0.01 to test the relationship between x and y.
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