2. (a) Calculate the Correlation Coefficient between the demand and price of IPh
ID: 3377391 • Letter: 2
Question
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
Explanation / Answer
2. (a) Calculate the Correlation Coefficient between the demand and price of IPh
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