. Give the estimated regression equation. C. Give the estimated value for each of the following, and accurately interpret each one in no more than a few sentences in terms of the problem: the estimated slope R-square D. State the null and alternate hypothesis being tested for the slope and what your conclusion is in this case.
. Give the estimated regression equation. C. Give the estimated value for each of the following, and accurately interpret each one in no more than a few sentences in terms of the problem: the estimated slope R-square D. State the null and alternate hypothesis being tested for the slope and what your conclusion is in this case.
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.6: Rational Functions
Problem 11SC: Find the mean hourly cost when the cell phone described above is used for 240 minutes.
Related questions
Question
The weekly sales in 100s sold (Units) and weekly average price in dollars (Price) for a product were recorded over 52 weeks at a store. The output for this regression is below (pg. 2). For parts (1)-(3) assume the regression assumptions are met.
A. Give the equation of the regression model, identifying any symbols used in terms of the problem.
B. Give the estimated regression equation.
C. Give the estimated value for each of the following, and accurately interpret each one in no more than a few sentences in terms of the problem:
-
- the estimated slope
- R-square
D. State the null and alternate hypothesis being tested for the slope and what your conclusion is in this case.
Transcribed Image Text:$Coefficients
(Intercept)
Price
2774.4916 -124.4429
$Summary
Root MSE
156.5130
R square Adj R-Squ
0.7376 0.7324
$Analysis.of.Variance
Df Sum Sq Mean Sq F value
Pr (>F)
Model
1 3443695 3443695 140.58 3.331e-16
Error 50 1224816
24496
C Total 51 4668511 3468191
$Parameter. Estimates.
(Intercept)
Price
1400
Units
200 400 600 800 1000
0
15
Estimate Std. Error t value Pr (>|t|) VIF
2774.4916 201.5096 13.7685
0
0
-124.4429
10.4956 -11.8566
01
.00
0
T
16
T
17
T
18
Price
O
19
00
880
80
20 21
Transcribed Image Text:Fitted
Theoretical Quantiles
200
400
600
800
1000
N
-1
1
2
O
0
-400
-200
O
0
Residuals
-400 -200
186
0
CXIXXIDISSOURISKHE
O
0
o
00
Sample Quantiles
200
a
80
000000
O
400 600
O
200 400 600
Normal Q-Q Plot
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