shown below is a portion of a computer output for a regression analysis relating supply (y in housands of units) and unit price (x in thousands of dollars). ANOVA Regression Residual df 1 39 SS 354.689 7035.262
shown below is a portion of a computer output for a regression analysis relating supply (y in housands of units) and unit price (x in thousands of dollars). ANOVA Regression Residual df 1 39 SS 354.689 7035.262
Chapter4: Linear Functions
Section: Chapter Questions
Problem 30PT: For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or...
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![Shown below is a portion of a computer output for a regression analysis relating supply (y in
thousands of units) and unit price (x in thousands of dollars).
ANOVA
Regression
Residual
Intercept
X
df
1
39
Coefficients
54.076
0.029
SS
354.689
7035.262
Standard Error
2.358
0.021
a. Calculate the t statistic. Let a = .05.Type in your t statistic to 3 decimals:
Do you Reject or Fail to Reject the Null Hypothesis? Type in Reject or Fail to Reject:
b. Calculate your Fisher statistic and round to 3 decimals:
c. Compute the coefficient of determination Round to 3 decimals: 0.421
d. Compute the coefficient of correlation Round to 3 decimals: 0.177
e. Predict the supply (in units) when the unit price is $50,000.: 56.976](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F51038f17-8323-46ef-a18b-b108bad15422%2F230e0d31-cdb7-4d9c-a819-f1e025ecc615%2Flanfuvq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Shown below is a portion of a computer output for a regression analysis relating supply (y in
thousands of units) and unit price (x in thousands of dollars).
ANOVA
Regression
Residual
Intercept
X
df
1
39
Coefficients
54.076
0.029
SS
354.689
7035.262
Standard Error
2.358
0.021
a. Calculate the t statistic. Let a = .05.Type in your t statistic to 3 decimals:
Do you Reject or Fail to Reject the Null Hypothesis? Type in Reject or Fail to Reject:
b. Calculate your Fisher statistic and round to 3 decimals:
c. Compute the coefficient of determination Round to 3 decimals: 0.421
d. Compute the coefficient of correlation Round to 3 decimals: 0.177
e. Predict the supply (in units) when the unit price is $50,000.: 56.976
![If Error (Epsilon) is normally distributed, then almost all of the standardized residuals ought to fall
between:
-2 and 2](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F51038f17-8323-46ef-a18b-b108bad15422%2F230e0d31-cdb7-4d9c-a819-f1e025ecc615%2Fdxqwex_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If Error (Epsilon) is normally distributed, then almost all of the standardized residuals ought to fall
between:
-2 and 2
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