The manager of a seafood restaurant was asked to establish a pricing policy on lobster dinners. Experimenting with prices produced the following data: Average Number Sold per Day, y Price, x Average...


The manager of a seafood restaurant was asked to establish a pricing policy on lobster dinners. Experimenting with prices produced the following data:
Average Number
Sold per Day, y Price, x Average Number Sold per Day, y Price, x
200 $6.00 155 $8.25
190 6.50 156 8.50
188 6.75 148 8.75
180 7.00 140 9.00
170 7.25 133 9.25
162 7.50
160 8.00
a. Plot the data and a regression line on the same graph.
b. Determine the correlation coefficient and interpret it.



Jun 05, 2022
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