MCQs > Engineering & Manufacturing > Data Analytics > 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?

Data Analytics MCQs

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?


Answer

Correct Answer:

Rs. 42.25 

Explanation:

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