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Author Question: Shown below is a portion of a computer output for a regression analysis relating supply (Y in ... (Read 78 times)

meganh99

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on: Mar 25, 2023

Shown below is a portion of a computer output for a regression analysis relating supply (Y in thousands of units) and unit price (X in thousands of dollars).

ANOVA  
 

df

SS

Regression

  1

  354.689

Residual

39

7035.262

   
 

Coefficients

Standard Error

Intercept

54.076

2.358

X

  0.029

0.021


a.What has been the sample size for this problem?
b.Perform a t test and determine whether or not supply and unit price are related. Let α = 0.05.
c.Perform and F test and determine whether or not supply and unit price are related. Let α = 0.05.
d.Compute the coefficient of determination and fully interpret its meaning. Be very specific.
e.Compute the coefficient of correlation and explain the relationship between supply and unit price.
f.Predict the supply (in units) when the unit price is $50,000.

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by meganh99 on Mar 25, 2023

gwisel

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Reply #1 on: Mar 25, 2023
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meganh99

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Reply 2 on: Mar 25, 2023
YES! Correct, THANKS for helping me on my review

miss.ashley

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Reply 3 on: Yesterday
:D TYSM

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