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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Transcribed Image Text: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
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