A retailer wanted to estimate the monthly fixed and variable
selling expenses. As a first step, she collected data from the past 8 months.
The total selling expenses ($1,000) and the total sales ($1,000) were recorded
and are listed below.
a. Compute the covariance, the coefficient of correlation,
and the coefficient of determination and describe what these statistics tell
b. Determine the least squares line and use it to produce
the estimates the retailer wants.
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