Solved

TABLE 13-2
a Candy Bar Manufacturer Is Interested in Trying

Question 45

Multiple Choice

TABLE 13-2
A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses 6 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below:
 City  Price ($)  Sales  River Falls 1.30100 Hudson 1.6090 Ellsworth 1.8090 Prescott 2.0040 Rock Elm 2.4038 Stillwater 2.9032\begin{array} { l l c } \hline \text { City } & \text { Price } ( \$ ) & \text { Sales } \\\hline \text { River Falls } & 1.30 & 100 \\\text { Hudson } & 1.60 & 90 \\\text { Ellsworth } & 1.80 & 90 \\\text { Prescott } & 2.00 & 40 \\\text { Rock Elm } & 2.40 & 38 \\\text { Stillwater } & 2.90 & 32 \\\hline\end{array}
-Referring to Table 13-2, what is the standard error of the estimate, SYX, for the data?


A) 0.885
B) 16.299
C) 0.784
D) 12.650

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents