Math Solutions

(See Solution) A shipping economist studies the relationship between the value per tonne of containerised cargo (x) and the freight rate charged by shipping

Question:

A shipping economist studies the relationship between the value per tonne of containerised cargo (x) and the freight rate charged by shipping lines for a same shipping route (y). The following table shows the values of x and y for ten shipments:

x 1000 2200 1800 2500 4050 3600 4100 4000 4590 6250
y 250 265 240 220 280 260 275 265 285 275
  1. Find the least squares regression line showing the relationship between x as the independent variable and y as the dependent variable.
  2. Test to determine if there is enough evidence to indicate that x and y are positively linearly related at the 5% significance level.
  3. Calculate and comment on the value of the coefficient of determination of the linear regression model.
  4. Suggest how the results of the linear regression analysis can be improved.

Price: $2.99
Solution: The downloadable solution consists of 4 pages
Deliverable: Word Document


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