TABLE 12-2
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 six 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:
.
-Referring to Table 12-2, what percentage of the total variation in candy bar sales is explained by the prices?
A) 100%
B) 88.54%
C) 78.39%
D) 48.19%

Question

TABLE 12-2
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 six 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:
  .
-Referring to Table 12-2, what percentage of the total variation in candy bar sales is explained by the prices?
A) 100% 
B) 88.54% 
C) 78.39% 
D) 48.19%

Quizplus · Accepted Answer

The Answer is C

TABLE 12-2 A Candy Bar Manufacturer Is Interested in Trying to Estimate