A1 Business and Technical College Elementary Statistics Worksheet

A colleague went to the lego.com website and recorded the number of pieces and the sale price for 157 Lego products listed. The following output from the Corr/Regression applet analyzes this data.

For each of the following, state the value of each and then interpret them in context (or explain why they do not have any meaning).

QUESTION 1

1. State and interpret the slope in the context of this problem

1 points

QUESTION 2

1. State and interpret the y-intercept in context or explain why it doesn’t have a practical interpretation.

0.5 points

QUESTION 3

1. State the value of R2 and interpret this value in the context of the problem.

0.5 points

400
300
price
200
100
1000
3000
4000
2000
pieces
Show Regression Line:
price` = 4.86 + 0.1050 x pieces
Show Residuals:
Show Squared Residuals:
: Correlation coefficient
R-squared
p=94.9%