4.A corporation imposes different price increases on its product in eight different regions of the country and measures over the next year changes in sales volume. The results are shown in the accompanying table. Change in 6 4 7 7 6 10 8 Price (Percentage) Change in 5.2 7.3 7.4 4.6 5.3 5.0 -1.0 2.9 Sales (Percentage) a. Find correlation coefficient between change in price and change in sales and test it whether it is statistically significant at 0.05 significance level. b. Determine which variable is dependent variable and which variable is independent variable based on the original variables, estimate the regression model and interpret the model. c. Run hypothesis testing at 0.05 significance level whether the regression coefficient bị is statistically significant or not. d. Calculate R2 value and interpret the result e.Predict the dependent variable value when independent variable is 4.8 and interpret the result.

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4.A corporation imposes different price increases on its product in eight
different regions of the country and measures over the next year changes
in sales volume. The results are shown in the accompanying table.
Change
in 6
5
4
7
7
10
8
Price
(Percentage)
Change
in 5.2
7.3
7.4
4.6
5.3
5.0
-1.0
2.9
Sales
(Percentage)
a. Find correlation coefficient between change in price and change in sales
and test it whether it is statistically significant at 0.05 significance level.
b. Determine which variable is dependent variable and which variable is
independent variable based on the original variables, estimate the
regression model and interpret the model.
c. Run hypothesis testing at 0.05 signi
ance level whether the
egression
coefficient bị is statistically significant or not.
d. Calculate R2 value and interpret the result
e.Predict the dependent variable value when independent variable is 4.8
and interpret the result.
Transcribed Image Text:4.A corporation imposes different price increases on its product in eight different regions of the country and measures over the next year changes in sales volume. The results are shown in the accompanying table. Change in 6 5 4 7 7 10 8 Price (Percentage) Change in 5.2 7.3 7.4 4.6 5.3 5.0 -1.0 2.9 Sales (Percentage) a. Find correlation coefficient between change in price and change in sales and test it whether it is statistically significant at 0.05 significance level. b. Determine which variable is dependent variable and which variable is independent variable based on the original variables, estimate the regression model and interpret the model. c. Run hypothesis testing at 0.05 signi ance level whether the egression coefficient bị is statistically significant or not. d. Calculate R2 value and interpret the result e.Predict the dependent variable value when independent variable is 4.8 and interpret the result.
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