00:01
So in this problem, we're given this data on the number of millions of eggs produced, this is in millions, and the price per dozen.
00:16
This is in dollars.
00:18
Okay, and we're given this set of data.
00:21
We're asked to conclude if there's a relationship between this, and i'm going to claim that there's a linear relationship happening.
00:38
Now let's prove that.
00:39
So let's plot this data and do a linear regression on it and see if we get a linear model with a high degree of confidence.
00:51
In other words, the variance is very close.
00:54
The r squared is very close to 1.
00:56
So i went to desmos .com, brought down the graphing calculator.
01:01
Here it is.
01:02
So i go to the plus here and the table.
01:05
And so for x1 i have 979 57 1332 1163 18655 just going to enter the data here off of our table 11917 and 273 then the price was 0 .77 0 .67 .697.
01:46
0 .697.
01:46
697.
01:47
617 .617.
01:57
0 .652, 1 .08, and 1 .42.
02:10
And if i fix my x and y axis here for a little bit, let's see.
02:15
Let's go from the lowest one we got, to 119, so we'll say from 100 to, what's the highest one, 1365, so we'll say 2 ,000, number y's.
02:33
Now we're going from what a low of about, 0 .617, so i'll say 0 .5 to a high of a buck 42 is the highest.
02:47
So i'll say 1 .5, that way they all show up here.
02:51
So here's our data.
02:54
It kind of scatters around, doesn't it? well, let's see if there's a linear relationship here for a second.
03:02
So if i do y1 equals mx1 plus b, what happened to my that's kind of weird.
03:22
Where do my data go? there's my data plus b.
03:39
It's not equal.
03:42
I need to do a little squiggly here.
03:44
A little tildy, so it doesn't mess up my data.
03:47
Okay, so what happened here? we got the best fit line through the data, and the r squared is a .697...