ECONOMICS ixiYiŷ(1-5)²2115160 176.2701.613213.5 220 195.313412.618Complete the following worksheet and then use it to calculate the coefficient of determination.(yi-y)²225.0002,025.0003 16.5 140 157.226315.9151,225.00045674514.5 190 182.61817 14058.034225.000150.878581.8711,225.000616 160 163.574130.553225.000713 200 201.661710.809625.0009868181015.5150 138.18212 200 214.357190169.922Total1,355.565625.0001,548.973625.00025.786225.000The coefficient of determination (2) isAccording to the regression model, which of the following is the best estimate together with the 95percent prediction interval of paint sales (in thousands of gallons) in a sales region where theselling price is $12.50?207.960 ± 2(16.233)0.376.210 ± 2(16.233)207.960 ± 2(2.874)376.210 ± 2(2.874)What is the price elasticity of demand at a selling price of $12.50?-0.76-0.520 -0.05

Answer 1: The Coefficient of Determination (r²).The coefficient of determination (r²) measures the…

Answered: i xi Yi ŷ (1-5)² 2 1 15 160 176.270…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Complete the following worksheet and then use it to calculate the coefficient of determination. (9,- y)²2 8.210 8.210 3.688 ŷ 19.232 19.232 18.287 18.287 60 19.5 17.342 6 60 19 17.342 7 65 15.5 16.397 16.397 15.452 15.452 13.562 13.562 11.672 1 2 50 21 3450 00 Z; 3/4 50 20 8 55 19 55 19.5 65 15 9 70 15 10 70 15.5 13 12 80 14 13 90 11.5 14 90 11 15 40 17 22888 11 80 -0.46 Ⓒ -0.02 11.672 21.122 The coefficient of determination (2) is 0.767 -0.50 Total O 0.03 3.688 0.951 0.951 0.001 0.001 0.837 0.837 7.866 7.866 22.040 22.040 22.613 (34 - y)² 13.201 21.468 6.934 9.818 What is the price elasticity of demand at a price of 50 cents? 9.818 6.934 0.751 1.868 1.868 0.751 11.334 5.601 23.684 28.801 0.401 143.232 ▼
Government financial statistics do not use definitions and concepts of SNA Question 2Answer True False
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