Consider the following data:
Average cost of wafers = Rs. 35
Average cost of chocolates = Rs. 37
Standard deviation of cost of wafers = 2.0
Standard deviation of cost of chocolates = 3.0
Correlation coefficient between the costs of chocolates and wafers = 0.7
What will be the expected cost of chocolates when the cost of wafers is Rs. 40?
Correct Answer:
Rs. 42.25
Explanation:
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