i Ii Yi ŷ (ŷ; -9)² Complete the following worksheet and then use it to calculate the coefficient of determination. (Vi-9)² 1 15 160 178.464 2.143 289.000 2 13.5 220 200.423 548.637 1,849.000 3 16.5 140 156.505 420.045 1,369.000 4 14.5 190 185.784 77.159 169.000 5 17 140 149.185 773.674 1,369.000 6 16 160 163.824 173.607 289.000 7 13 200 207.743 945.132 529.000 8 00 18 150 134.545 1,802.427 729.000 9 12 220 222.382 2,059.526 1,849.000 10 15.5 190 171.144 34.293 169.000 Total The coefficient of determination (2) is. According to the regression model, which of the following is the best estimate together with the 95 percent prediction interval of paint sales (in thousands of gallons) in a sales region where the selling price is $12.50? O215.0602(2.636) 409.560 ± 2(14.889) 215.0602(14.889) 409.560 ± 2(2.636) What is the price elasticity of demand at a selling price of $12.50? -0.55 -0.85 -0.06

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Question
i
Ii
Yi
ŷ
(ŷ; -9)²
Complete the following worksheet and then use it to calculate the coefficient of determination.
(Vi-9)²
1
15
160
178.464
2.143
289.000
2
13.5
220
200.423
548.637
1,849.000
3
16.5 140
156.505
420.045
1,369.000
4
14.5 190
185.784
77.159
169.000
5
17
140
149.185
773.674
1,369.000
6
16
160
163.824
173.607
289.000
7
13
200 207.743
945.132
529.000
8
00
18
150 134.545
1,802.427
729.000
9
12
220
222.382
2,059.526
1,849.000
10
15.5 190 171.144
34.293
169.000
Total
The coefficient of determination (2) is.
According to the regression model, which of the following is the best estimate together with the 95 percent prediction interval of paint sales (in
thousands of gallons) in a sales region where the selling price is $12.50?
O215.0602(2.636)
409.560 ± 2(14.889)
215.0602(14.889)
409.560 ± 2(2.636)
What is the price elasticity of demand at a selling price of $12.50?
-0.55
-0.85
-0.06
Transcribed Image Text:i Ii Yi ŷ (ŷ; -9)² Complete the following worksheet and then use it to calculate the coefficient of determination. (Vi-9)² 1 15 160 178.464 2.143 289.000 2 13.5 220 200.423 548.637 1,849.000 3 16.5 140 156.505 420.045 1,369.000 4 14.5 190 185.784 77.159 169.000 5 17 140 149.185 773.674 1,369.000 6 16 160 163.824 173.607 289.000 7 13 200 207.743 945.132 529.000 8 00 18 150 134.545 1,802.427 729.000 9 12 220 222.382 2,059.526 1,849.000 10 15.5 190 171.144 34.293 169.000 Total The coefficient of determination (2) is. According to the regression model, which of the following is the best estimate together with the 95 percent prediction interval of paint sales (in thousands of gallons) in a sales region where the selling price is $12.50? O215.0602(2.636) 409.560 ± 2(14.889) 215.0602(14.889) 409.560 ± 2(2.636) What is the price elasticity of demand at a selling price of $12.50? -0.55 -0.85 -0.06
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