Complete the following worksheet and then use it to calculate the coefficient of determination. i Ji ૐ (ŷi - ÿ)² (Yi - ÿ)² 1 50 20 19.289 8.540 13.201 2 50 21 19.289 8.540 21.468 3 55 19 18.339 3.890 6.934 4 55 19.5 18.339 3.890 9.818 5 60 19.5 17.389 1.045 9.818 6 60 19 17.389 1.045 6.934 7 65 16.5 16.439 0.005 0.018 8 65 15 16.439 0.005 1.868 9 70 14 15.489 0.770 5.601 10 70 15.5 15.489 0.770 0.751 11 80 13 13.589 7.715 11.334 12 80 14 13.589 7.715 5.601 13 14 15 345 90 11.5 11.689 21.881 23.684 90 11 11.689 21.881 28.801 40 17 21.189 23.255 0.401 Total The coefficient of determination (2) is What is the price elasticity of demand at a price of 50 cents? -0.50 -0.46 0.03 -0.02

Complete the following worksheet and then use it to calculate the coefficient of determination. i Ji ૐ (ŷi - ÿ)² (Yi - ÿ)² 1 50 20 19.289 8.540 13.201 2 50 21 19.289 8.540 21.468 3 55 19 18.339 3.890 6.934 4 55 19.5 18.339 3.890 9.818 5 60 19.5 17.389 1.045 9.818 6 60 19 17.389 1.045 6.934 7 65 16.5 16.439 0.005 0.018 8 65 15 16.439 0.005 1.868 9 70 14 15.489 0.770 5.601 10 70 15.5 15.489 0.770 0.751 11 80 13 13.589 7.715 11.334 12 80 14 13.589 7.715 5.601 13 14 15 345 90 11.5 11.689 21.881 23.684 90 11 11.689 21.881 28.801 40 17 21.189 23.255 0.401 Total The coefficient of determination (2) is What is the price elasticity of demand at a price of 50 cents? -0.50 -0.46 0.03 -0.02

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter4: Estimating Demand

Section: Chapter Questions

Problem 1.2CE: Interpret the coefficients and calculate the price elasticity of soft drink demand.

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