Write the resulting regression equation. Given: The ATV Company produces a specialty cement used in the construction of roads. ATV is a price-setting firm and estimates the demandfor its cement using a demand function in the linear form:Q = f( P, M, PR)where Qc = demand for cement/month (in yards) Pc = the price of cement per yard, M = country's tax revenues per capita, and PR = the priceof asphalt per yard. The manager of ATV obtained the following results in her attempt to estimate the demand for cement in the succeedingmonths. The results are presented below:R- SQUAREF-RATIODEPENDENT VARIABLEQcP-VALUE ONFOBSERVATIONS640.809384.8720.0001PARAMETERSTANDARD ERRORT-P-VALUEVARIABLEESTIMATERATIOINTERCEPT8.204.012.040.0461PC-3.541.64-2.160.0357M0.642870.193.380.0014PA0.78540.382.070.0439

From the given results, following estimate of the coefficient can be extracted.

Answered: Write the resulting regression…

Math

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Write the resulting regression equation.

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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Concept explainers

Correlation

Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.

Regression Analysis

Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.

Question

Write the resulting regression equation.

Given: The ATV Company produces a specialty cement used in the construction of roads. ATV is a price-setting firm and estimates the demand
for its cement using a demand function in the linear form:
Q = f( P, M, PR)
where Qc = demand for cement/month (in yards) Pc = the price of cement per yard, M = country's tax revenues per capita, and PR = the price
of asphalt per yard. The manager of ATV obtained the following results in her attempt to estimate the demand for cement in the succeeding
months. The results are presented below:
R- SQUARE
F-RATIO
DEPENDENT VARIABLE
Qc
P-VALUE ONF
OBSERVATIONS
64
0.8093
84.872
0.0001
PARAMETER
STANDARD ERROR
T-
P-VALUE
VARIABLE
ESTIMATE
RATIO
INTERCEPT
8.20
4.01
2.04
0.0461
PC
-3.54
1.64
-2.16
0.0357
M
0.64287
0.19
3.38
0.0014
PA
0.7854
0.38
2.07
0.0439

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