Answer to Question #221592 in Statistics and Probability for nana k

Question

A trader at the Simpa Hall Market sells books. He sells the books at different fixed price (𝑥) in each of the weeks within the semester. He noted the number of books sold (𝑦 ) at each of the fixed price within the semester. The data is shown in the table below. 

 

Price per book

20

10

25

30

35

40

25

40

45

20

35

40

Number of books sold

60

70

55

50

45

40

54

40

35

65

48

46

 

Estimate the linear regression of 𝑦 on 𝑥 and test for the presence or otherwise of autocorrelation at 5%.