220 195.721 516.244 2,209.000 3 16.5 140 153.119 395.254 1,089.000 4 14.5 190 181.520 72.590 289.000 5 17 120 146.019 727.974 2,809.000 6 16 160 160.219 163.354 169.000 7 13 190 202.821 889.292 289.000 8 18 150 131.818 1,695.957 529.000 9 12 210 217.022 1,937.936 1,369.000 10 15.5 190 167.320 32.262 289.000 Total
Complete the following worksheet and then use it to calculate the coefficient of determination.
1 15 160 174.420 2.016 169.000
2 13.5 220 195.721 516.244 2,209.000
3 16.5 140 153.119 395.254 1,089.000
4 14.5 190 181.520 72.590 289.000
5 17 120 146.019 727.974 2,809.000
6 16 160 160.219 163.354 169.000
7 13 190 202.821 889.292 289.000
8 18 150 131.818 1,695.957 529.000
9 12 210 217.022 1,937.936 1,369.000
10 15.5 190 167.320 32.262 289.000
Total
The coefficient of determination (r2
) is
According to the regression model, which of the following is the best estimate together with the 95 percent prediction interval of paint sales (in thousands of gallons) in a sales region where the selling price is $12.50?
397.680 ± 2(18.632)
209.930 ± 2(18.632)
209.930 ± 2(3.299)
397.680 ± 2(3.299)
What is the price elasticity of demand at a selling price of $12.50?
-0.55
-0.06
-0.85
-0.05
Step by step
Solved in 5 steps with 9 images
