Find whether demand and unit price are related using t test

Reference no: EM13108185

Portion of the compute output for regression analysis relating Y (demand in units)and X(unit price)

ANNOVA
df SS
regression 1 5048.818
residual 46 ?
total ? 8181.479

coefficients st. error t-stat
Intercept 80.390 3.102 ?
X -2.137 .248 ?

A) Carry out t test and find out whether or not demand and unit price are related. Let a=.05
B) Carry out an F test and find out whether or not demand and unit price are related. Let a=.05
C) Calculate coefficient of determination and fully interpret its meaning.

Reference no: EM13108185

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