Listed below are costs (in dollars) of air-fares for different airlines from New York City to San Francisco. The costs are base on tickets purchased 30 days in advance and on day in advance.
30 days x: 240, 250, 254, 284, 288, 328, 290
One day y: 556, 514, 587, 843, 728, 988, 536
a.) Compute the correlation coefficient (Answer a-c)
b.) Compute the slope of linear regreesion line (answer)
c.) Compute the y intercept of the linear regression (answer)
d.) Use the equation of the regression line(and parts b. and c.) to give a point estimate of the cost of a ticket purchased one day in advance, given the ticket cost of $310 if purchased 30 days in advance of the flight
e.) Give a 95% confidence interval for y when x is $310