A researcher recently conducted a study on the relationship between the applicat

Question

A researcher recently conducted a study on the relationship between the application fee payable on a credit card and the interest rate (%) of the credit card. The following regression results were obtained.
Regression statistics:

ANOVA

Using the output interpret the (a) correlation, (b) coefficient of determination and (c) the expected interest rate on a credit card given the application fee is $200A researcher recently conducted a study on the relationship between the application fee payable on a credit card and the interest rate (%) of the credit card. The following regression results were obtained.

Regression statistics:

ANOVA

Using the output interpret the (a) correlation, (b) coefficient of determination and (c) the expected interest rate on a credit card given the application fee is $200

Multiple R 0.170298355 R Square 0.02900153 Adjusted R Squar 0.025869276 Standard Error 3.519442538 Observations 312

Explanation / Answer

a. correlation co-efficient = 0.170298355

b. co-efficient of determination = 0.02900153

c. the rate of intrest is 13%

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