Question 4.04TABLE 1QQ*810131216151112From Table 1 above, calculate R-squared.Round to two decimal places.Answer:.01

Answered: Question 4.04 TABLE 1 Q Q* 10 13 12

Business

Economics

Question 4.04 TABLE 1 Q Q* 10 13 12

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Expert Solution

Step 1

Here we know that, R- squared is known as the correlation coefficient.

Mean of Q ( $\bar{Q}$ ) = $\frac{8 + 13 + 16 + 11}{4}$

=48/4

=12

Mean of Q* ( $\bar{Q *}$ )= $\frac{10 + 12 + 15 + 12}{4} = 49 / 4 = 12.25$

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