University of California San Diego Correlation Equation Discussion A major oil company is studying the relationship between the daily traffic count and the number of gallons of gasoline pumped at company stations. A sample of eight company owned stations is selected and the following information obtained: a. Develop a scatter diagram with the amount of gasoline pumped as the dependent variable X and traffic as Y.b. Display the correlation equation.c. What is coefficient of correlation? Compute the coefficient of determination.d. Interpret the meaning of the coefficient of determination.
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