Question: Do a complete regression analysis by performing these steps.

1. Draw a scatter plot
2. Compute the correlation coefficient
3. State the hypotheses
4. Test the hypotheses at = 0.05. Use Table I.
5. Determine the regression line equation.
6. Plot the regression line on the scatter plot.
7. Summarize the results.

A medical researcher wishes to describe the relationship between the prescription cost of a brand name drug and it generic equivalent. The data (in dollars) are shown. Describe the relationship.

Brand name x 96 93 59 80 44 47 15 56

Generic y 42 31 17 16 8 12 6 22

Price: $2.99

Solution: The downloadable solution consists of 4 pages
Deliverable: Word Document