Two Industrial Variables
In this report, we want to determine whether there is a relationship between two industrial variables, X and Y, that would prove the importance for the company to achieve its maximum revenue and decide how to deal with its data and information.
EMIC, a manufacturing company and plant, is equipped with state of the art and most recent can making technology to manufacture general line cans in different shapes and sizes plus a wide range of food packaging products. EMIC also provides the market with a very advanced metal decoration and printing services including pre-press activities and fully computerized plate processing technology.
Our aim in this project is to study EMIC’s products and prices by including one of the statistics …show more content…
R2 (= r2, the coefficient of determination) measures the proportion of the variation in y that is explained by the Variation in X.
To discover the relationship between the size and the price of the product we must get the coefficient of determination R^2 . R^2=1-〖SS〗_E/〖SS〗_T R^2=1-0.8668/16.77=0.94 Since R = 0.94 we can conclude that there is a strong relationship between the size and price of the product.
Figure 1 : scatter plot of price vs. product size This figure shows the strong relationship between the data given and the straight line that is almost passing through three points. The figure has been implemented using Minitab program.
Figure 2: probability plot of product size
However, in the figure over that indicates the likelihood appropriation of the result size, which demonstrates that during this level about noteworthiness (0. 05). Those result measure might a chance to be demonstrated by typical