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goals decreases

2. REVENUE The table shows the estimated revenue earned for ringtone and ringback purchases, in

millions of dollars, each year since 2010.

Year

2010

2011

2012

2013

Revenue ($)

448

276.2 166.9

97.9

a. Write the equation for the best-fit line for the data.

b. Find and interpret the correlation coefficient.

2014

66.3

2015

54.5

2016

40.1

goals decreases 2 REVENUE The table shows the estimated revenue earned for ringtone and ringback purchases in millions of dollars each year since 2010 Year

Answer :

The required correlation coefficient is r ≈ -0.994 and the equation for the best-fit line for the data is y = -104.94t + 866.825.

What is Statistic?

Statistic is the study of mathematics that deals with relations between comprehensive data.

Here,
a. To find the equation for the best-fit line for the data, we can use linear regression. We'll use the year (t) as the independent variable and the revenue (y) as the dependent variable. We can plug the data points into a calculator or spreadsheet to find the slope (m) and y-intercept (b) of the line,

n = 4 (number of data points)

∑t = 8060

∑y = 989.0

∑ty = 379466.5

∑t² = 161440

m = (n∑ty - ∑t∑y) / (n∑t² - (∑t)²) ≈ -104.94

b = (∑y - m∑t) / n ≈ 866.825

Therefore, the equation for the best-fit line is, y = -104.94t + 866.825

b. To find the correlation coefficient, we can use the formula:

r = [n∑ty - (∑t)(∑y)] / √([n∑t² - (∑t)²][n∑y² - (∑y)²])

r ≈ -0.994

Thus, the required correlation coefficient is r ≈ -0.994 and the equation for the best-fit line for the data is y = -104.94t + 866.825.

Learn more about Statistics here:
https://brainly.com/question/23091366

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