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

a.Perform a t test and determine whether or not demand and unit price are related. Let $\alpha$= 0.05.
b.Perform an F test and determine whether or not demand and unit price are related. Let $\alpha$= 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.

Question

Shown below is a portion of a computer output for a regression analysis relating Y (demand) and X (unit price).
  
a.Perform a t test and determine whether or not demand and unit price are related. Let $\alpha$= 0.05.
b.Perform an F test and determine whether or not demand and unit price are related. Let $\alpha$= 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.

Quizplus · Accepted Answer

The Answer of Shown below is a portion of a computer output for a regression analysis relating Y (demand) and X (unit price).
  
a.Perform a t test and determine whether or not demand and unit price are related. Let $\alpha$= 0.05.
b.Perform an F test and determine whether or not demand and unit price are related. Let $\alpha$= 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.

Shown Below Is a Portion of a Computer Output for a Regression