B-4 A toy store manager would like to know how the price can affect the sales of toys. In hisdata, he obtained 100 pairs of prices (unit: £) and volume of sales (unit: hundreds) for thetoys.A simple linear regression was run with Sales as the dependent variable and Price as theindependent variable with the following results.Regression StatisticsR SquareAdj. RSqrStErr of EST0.8760.7670.7014.184Summary TableVariableCoeff.Std. ErrIntercept64.74211.310Price-2.6450.602(a) Write down the estimated regression equation. Explain this regression equation.(b) What's the value for R Square? Explain the meaning of this value.(c) Test the significance of the model at a=0.05 level. Write down the hypothesis you aretesting, the statistic you use to evaluate the test, and your conclusion.(d) Use the regression output to construct a 99% confidence interval for the predicted saleswhen the price is set to be 15.(e) A colleague in the toy store claims that £1 increase in the price will lead to less than 2(hundred) decrease in sales. Is there sufficient evidence to reject that claim at a=0.05 level?

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Answered: B-4 A toy store manager would like to…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The data show the chest size and weight of several bears. Find the regression equation, letting chest size be the independent (x) variable. Then find the best predicted weight of a bear with a chest size of 63 inches. Is the result close to the actual weight of 442 pounds? Use a significance level of 0.05. Chest size (inches) 58 50 65 59 59 48 Weight (pounds) 414 312 499 450 456 260 Click the icon to view the critical values of the Pearson correlation coefficient r. What is the regression equation? Critical Values of the Pearson Correlation Coefficient r y=D+x (Round to one decimal place as ne Critical Values of the Pearson Correlation Coefficient r NOTE: To test Ho: p=0 against H,: p+0, reject Ho if the absolute value of r is greater than the critical value in the table. a = 0.05 a = 0.01 4 0.950 0.990 0.878 0.811 0.754 5 0.959 6 0.917 7 0.875 8 0.707 0.834 0.666 0.798 10 0.632 0.765 11 0.602 0.735 12 0.576 0.708 13 0.553 0.684 14 0.532 0.661 15 0.514 0.641 16 0.497 0.623 17 0.482…
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What is the dollar amount of change in sales for each new year according to the regression (slope) model? Do not use commas or $ in your answer.
The data show the chest size and weight of several bears. Find the regression equation, letting chest size be the independent (x) variable. Then find the best predicted weight of a bear with a chest size of 40 inches. Is the result close to the actual weight of 352 pounds? Use a significance level of 0.05. Chest size (inches) *Weight (pounds) 44 54 328 528 41 55 39 51 418 580 296 503 Click the icon to view the critical values of the Pearson correlation coefficient r. - What is the regression equation? x (Round to one decimal place as needed.)
The data show the chest size and weight of several bears. Find the regression equation, letting chest size be the independent (x) variable. Then find the best predicted weight of a bear with a chest size of 57 inches. Is the result close to the actual weight of 476 pounds? Use a significance level of 0.05. 44 Chest size (inches) Weight (pounds) 58 48 51 58 60 425 266 347 453 282 408 Click the icon to view the critical values of the Pearson correlation coefficient r. ..... What is the regression equation? y=+x (Round to one decimal place as needed.) Activate Windows View an example Get more help- Help me solve this O Type here to search hp delete insert prt sc f12 f1o fg 1 f7 f6 f5 f3 米 IOI f1 esc hom backspace 6. L. 4 U E R tab F G J. A caps lock pause 00 9, %24 3. %23
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For the relationship between Calories and Carbs, here is the equation of the line of best fit: Regression Equation: Calories = 2.36 + 4.432 Carbs What would you predict for the number of Calories if a cereal had 28 Carbs?
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The arm span and foot length were both measured (in centimeters) for each of 20 students in a biology class. The computer output displays the regression analysis. Which of the following is the best interpretation of the coefficient of determination r2? About 37% of the variation in arm span is accounted for by the linear relationship formed with the foot length. About 65% of the variation in foot length is accounted for by the linear relationship formed with the arm span. About 63% of the variation in arm span is accounted for by the linear relationship formed with the foot length. About 63% of the variation in foot length is accounted for by the linear relationship formed with the arm span.
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4
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