Assume you have noted the following prices for books and the number of pages tha

Question

Assume you have noted the following prices for books and the number of pages that each book contains Pages (X 500 700 750 590 540 650 480 Book Price S7.00 7.50 9.00 6.50 7.50 7.00 4.50 You decide to run a regression model to examine the relationship between the number of pages and prices for books and attach the results below SUMMARY OUTPUT ssion Statistics Multiple R R Square Adjusted R Standard Erro 0.750 0.563 0.475 0.981 7.000 ANOVA MS ance F 0.052 1.000 5.000 6.000 6.192 4.808 11.000 6.192 0.962 6.439 Residual Total P-value Lower 95% 1.042 0.010 2.377 0.004 0.438 2.538 0.680 0.052 5.069 0.000 95% Lower 950% 7.152 0.020 5.069 0.000 7.152 0.020 Pages (x) 8. In the estimated regression equation above a. 1.042 is the intercept b. .042 is the slope c. 2.377 is the intercept d. 0.004 is the slope 9. The above equation implies that an a. increase of1 in the number of pages is associated with an increase of $1.052 in prices b. increase of1 in the number of pages is associated with an increase of $0.01 in prices c. increase of 1 in the number of pages is associated with an increase of $1.042 in prices d. increase of 1 in the number of pages is associated with an increase of S0.75 in prices

Explanation / Answer

8. a) 1.042 is the intercept

Since 1.042 is written coresponding with the intercept field.

9. The slope from the output is 0.010 corresponding to the coefficient of Pages(x)

now by the definition of slope :

b) increase of 1 in in the number of pages is associated with an increase of $ 0.01 in the prices

10. The regression equation can be writeen as

y(price) = 0.01 (Pages) + 1.042

Pages = 1000

y(price) = 0.01 (1000) + 1.042

= 10 + 1.042

= 11.042

b) 11.042

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.