A company has recorded data on the weekly sales for its product (y) and the unit price of the competitor's product (x). The data resulting from a random sample of 7 weeks follows. Use Excel's Regression Tool to answer the following questions.

A)What is the estimated regression equation?
B)Perform a t test and determine whether or not x and y are related. Use$\alpha$ = 0.05.
C)Perform an F test and determine whether or not x and y are related. Use $\alpha$= 0.05.
D)Find and interpret the coefficient of determination.

Question

A company has recorded data on the weekly sales for its product (y) and the unit price of the competitor's product (x). The data resulting from a random sample of 7 weeks follows. Use Excel's Regression Tool to answer the following questions.
  
A)What is the estimated regression equation? 
B)Perform a t test and determine whether or not x and y are related. Use$\alpha$ = 0.05. 
C)Perform an F test and determine whether or not x and y are related. Use $\alpha$= 0.05. 
D)Find and interpret the coefficient of determination.

Quizplus · Accepted Answer

The Answer of A company has recorded data on the weekly sales for its product (y) and the unit price of the competitor's product (x). The data resulting from a random sample of 7 weeks follows. Use Excel's Regression Tool to answer the following questions.
  
A)What is the estimated regression equation? 
B)Perform a t test and determine whether or not x and y are related. Use$\alpha$ = 0.05. 
C)Perform an F test and determine whether or not x and y are related. Use $\alpha$= 0.05. 
D)Find and interpret the coefficient of determination.

A Company Has Recorded Data on the Weekly Sales for Its