A company has recorded data on the weekly sales for its product (y) and the unit

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. What is the estimated regression equation? Perform a t test and determine whether or not x and y arc related. Use a = 0.05. Perform an F test and determine whether or not x and y are related. Use ct = 0.05. Find and interpret the coefficient of determination.

Explanation / Answer

A company has recorded data on the weekly sales for its product (y) and the unit

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