Shown below is a portion of a computer output for a

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Reference no: EM13640571

Shown below is a portion of a computer output for a regression analysis relating Y (demand) and X (unit price).

ANOVA

df SS

Regression 1 5048.818

Residual 46 3132.661

Total 47 8181.479

Coefficients Standard Error

Intercept 80.390 3.102

X -2.137 0.248

a. Perform a t test and determine whether or not demand and unit price are related. Let ? = 0.05.

b. Perform an F test and determine whether or not demand and unit price are related. Let ? = 0.05.

c. Compute the coefficient of determination and fully interpret its meaning. Be very specific.

d. Compute the coefficient of correlation and explain the relationship between demand and unit price.

Reference no: EM13640571

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