please help me here with a and b and do i have c and d correct?, i do not know how to start. john put his spare change in jar every night. If he has $11.09, at end of Jan. . 22.27 at the end of feb, 44.35 in April, 75.82 in july, 89.00 in aug. and 114.76.

Question

a. at the end of oct. what does value of correlation coefficient tell you about correlation of data?
b. write the equation of best fitting line
c. average he puts in jar each month. i divided 114.76 by 10 mo, which covered that period average = 11.48 in jar each month

d. will he have enough saved to buy video game console for $140.00 at end of dec.? no, money needed 140.00 - 114.76 = 25.24 needed.
M = 25.24 - 2(aver 11.48) = 2.28 more needed. he needs to save an extra 1.14 each for nov. and dec,
thank you for your help.

Answer 1

c and d look good

The correlation coefficient is a number between 0 and 1. If there is no relationship between the predicted values and the actual values the correlation coefficient is 0 or very low (the predicted values are no better than random numbers). As the strength of the relationship between the predicted values and actual values increases so does the correlation coefficient. A perfect fit gives a coefficient of 1.0. Thus the higher the correlation coefficient the better.

Best fit line: Look up regression to find the formulas for slope and intercept. Plug in your data and you get

y = 11.33x - 0.88

Answer 2

Steve thank you so much. ann