c3q26Please see the screen shot and help me solve the problem. Please give me the steps that you used to find the solution so that I can learn to solve: 26. The following data were collected during a study of consumer buying patterns:Observation1234LO5678910111213X y15 74258040 8432 8151 9647 9530 8318 7814 70157222 85248833 901. Plot the data.2. Obtain a linear regression line for the data.3. What percentage of the variation is explained by the regression line?4. Use the equation determined in part b to predict the expected value of y for x = 41.

For the given data, very first, I would plot the data and add the trend line, The detailed…

1. Plot the data. 2. Obtain a linear regression line for the data. 3. What percentage of the variation is explained by the regression line? 4. Use the equation determined in part b to predict the expected value of y for x = 41.

1. Plot the data. 2. Obtain a linear regression line for the data. 3. What percentage of the variation is explained by the regression line? 4. Use the equation determined in part b to predict the expected value of y for x = 41.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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