Exhibit 14-6
You are given the following information about y and x.
-We are interested in determining the relationship between daily supply (y) and the unit price (x) for a particular item. A sample of ten days supply and associated price resulted in the following data.
a.Develop the least square estimated regression equation.
b.Compute the coefficient of determination and fully explain its meaning.
c.At $\alpha$ = 0.05, perform a t-test and determine if the slope is significantly different from zero.

Question

Exhibit 14-6
You are given the following information about y and x. 
-We are interested in determining the relationship between daily supply (y) and the unit price (x) for a particular item. A sample of ten days supply and associated price resulted in the following data.  
a.Develop the least square estimated regression equation.
b.Compute the coefficient of determination and fully explain its meaning.
c.At $\alpha$ = 0.05, perform a t-test and determine if the slope is significantly different from zero.

Quizplus · Accepted Answer

The Answer of Exhibit 14-6
You are given the following information about y and x. 
-We are interested in determining the relationship between daily supply (y) and the unit price (x) for a particular item. A sample of ten days supply and associated price resulted in the following data.  
a.Develop the least square estimated regression equation.
b.Compute the coefficient of determination and fully explain its meaning.
c.At $\alpha$ = 0.05, perform a t-test and determine if the slope is significantly different from zero.

Exhibit 14-6 You Are Given the Following Information About Y α\alphaα

Exhibit 14-6
You Are Given the Following Information About Y $\alpha$