Answered: Enterprise Industries produces Fresh, a…

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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Related questions

Question

A
1 Demand
2
WN
3
4
5
6
7
8
9
10
11
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15
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7.38
8.51
9.52
7.50
9.33
8.28
8.75
7.87
7.10
8.00
7.89
8.15
9.10
8.86
8.90
8.87
9.26
9.00
8.75
7.95
7.65
7.27
8.00
8.50
8.75
9.21
8.27
7.67
7.93
9.26
B
PriceDif
-0.05
0.25
0.60
0.00
0.25
0.20
0.15
0.05
-0.15
0.15
0.20
0.10
0.40
0.45
0.35
0.30
0.50
0.50
0.40
-0.05
-0.05
-0.10
0.20
0.10
0.50
0.60
-0.05
0.00
0.05
0.55
C

Transcribed Image Text:2. Enterprise Industries produces Fresh, a brand of liquid laundry detergent. In order to study the relationship between price difference of two products and demand for the large bottle of Fresh, company gathered the data in FreshDetergent.xlsx over the last 30 sales period. Here for each period, y = demand for the large bottle of Fresh in the sales period (Demand) x = the price difference in the sales period (PriceDif). Perform a simple linear regression analysis to answer the following questions from R-output. Output should look similar to partial output result in figure 2 Residuals: Max Min 1Q Median 3Q -0.45713 -0.21121 -0.04898 0.14314 0.84961 Coefficients: Estimate Std. Error t value Pr(>|t|) (Intercept) 7.81409 0.07988 97.82 < 2e-16 *** PriceDif 2.66521 0.25850 10.31 4.88e-11 *** Signif. codes: 0 ****' 0.001 **** 0.01 0.05 0.11 Residual standard error: 0.3166 on 28 degrees of freedom Multiple R-squared: 0.7915, Adjusted R-squared: 0.7841 F-statistic: 106.3 on 1 and 28 DF, p-value: 4.881e-11

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