10. Based on the above estimated regression line if the number of pages is 1000, then the point estimate for price is S10 b. а. S11.042 $750 $1052 с. d.

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Author:James Stewart, Lothar Redlin, Saleem Watson
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Chapter1: Equations And Graphs
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Problem 12P: Demand for Candy Bars In this problem you will determine a linear demand equation that describes the...
Question

Q10

Assume you have noted the following prices for books and the number of pages that each book contains.
Вook
Pages (x)
Price (v)
A
500
$7.00
B
700
7.50
C
750
9.00
D
590
6.50
E
540
7.50
F
650
7.00
G
480
4.50
You decide to run a regression model to examine the relationship between the number of pages and prices for books and
attach the results below.
SUMMARY OUTPUT
Regression Statistics
Multiple R
R Square
Adjusted RS
Standard Ere
Observations
0.750
0.563
0.475
0.981
7.000
ANOVA
Significance F
6.439
0.052
df
MS
Regression
1.000
6.192
6.192
Residual
5.000
4.808
0.962
Total
6.000
11.000
Coefficients Standard Emo.
2.377
Lower 95% Upper 95% Lower 95.0% Upper 95.0%
7.152
0.020
t Stat
P-value
7.152
Intercept
Pages (x)
8. In the estimated regression equation above,
1.042 is the intercept
1.042 is the slope
2.377 is the intercept
d. 0.004 is the slope
0.680
5.069
0.438
2.538
1.042
-5.069
0.010
0.004
0.052
0.000
0.000
0.020
a.
b.
с.
9. The above equation implies that an
increase of 1 in the number of pages is associated with an increase of $1.052 in prices
increase of 1 in the number of pages is associated with an increase of S0.01 in prices
increase of 1 in the number of pages is associated with an increase of $1.042 in prices
a.
b.
с.
d.
increase of I in the number of pages is associated with an increase of S0.75 in prices
10. Based on the above estimated regression line if the number of pages is 1000, then the point estimate for price is
$10
b.
а.
$11.042
$750
$1052
с.
d.
Transcribed Image Text:Assume you have noted the following prices for books and the number of pages that each book contains. Вook Pages (x) Price (v) A 500 $7.00 B 700 7.50 C 750 9.00 D 590 6.50 E 540 7.50 F 650 7.00 G 480 4.50 You decide to run a regression model to examine the relationship between the number of pages and prices for books and attach the results below. SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted RS Standard Ere Observations 0.750 0.563 0.475 0.981 7.000 ANOVA Significance F 6.439 0.052 df MS Regression 1.000 6.192 6.192 Residual 5.000 4.808 0.962 Total 6.000 11.000 Coefficients Standard Emo. 2.377 Lower 95% Upper 95% Lower 95.0% Upper 95.0% 7.152 0.020 t Stat P-value 7.152 Intercept Pages (x) 8. In the estimated regression equation above, 1.042 is the intercept 1.042 is the slope 2.377 is the intercept d. 0.004 is the slope 0.680 5.069 0.438 2.538 1.042 -5.069 0.010 0.004 0.052 0.000 0.000 0.020 a. b. с. 9. The above equation implies that an increase of 1 in the number of pages is associated with an increase of $1.052 in prices increase of 1 in the number of pages is associated with an increase of S0.01 in prices increase of 1 in the number of pages is associated with an increase of $1.042 in prices a. b. с. d. increase of I in the number of pages is associated with an increase of S0.75 in prices 10. Based on the above estimated regression line if the number of pages is 1000, then the point estimate for price is $10 b. а. $11.042 $750 $1052 с. d.
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