Below is a regression using X = average price, Y= units sold, n = 20 stores 0.20

Question

Below is a regression using X = average price, Y= units sold, n = 20 stores 0.200 26.128 20 Std. Error ANOVA table Source Regression Residual df 18 19 p-value 0478 MS 4.51 3,080.89 12,288.31 3,080.89 682.68 15,369.20 Regression output variables Intercept Slope confidence interval coefficients 614.9300 109.1120 t(df= 18) 12.002 2.124 95% upper 722.5692 -1.2038 std. error p-value 95% lower 51.2343 51.3623 507.2908 0478 -217.0202 (a) Write the fitted regression equation. (Round your answer to 3 decimal places. Negative values should NOT be indicated by a minus sign.) (b) Write the formula for each t statistic and verify the t statistics shown below. (Round your answer to 3 decimal places. Negative values should be indicated by a minus sign.) Intercept Slope (c) State the degrees of freedom for the t tests and find the two-tail critical value for t by using Appendix D Round to25 value to 3 decimal places.) df 025 (d) Use Excel's function T.DIST.2T(t, d.f.) to verify the p-value shown for each t statistic (slope, intercept) (Round your answer to 4 decimal places.) p-value Intercept Slope (e-1) Calculate f for slope and show that F . (Round your answer to 3 decimal places.) (e-2) Calculate R2. (Round your answer to 3 decimal places.) R2 (e-3) The percentage of variation in units sold that can be explained by average price is

Explanation / Answer

a) Yat =614.930 - 109.112 x

b) inercept =614.930

slope =-109.112

c)

df =18

t =2.101

d)

intercept p value =0.0000

slope =0.0478

e-1) F=t2 =(-2.124)2 =4.511

e-2) =SSR/SST =0.200

e-3) 20.0%

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