TABLE 13-2A candy bar manufacturer is interested in trying t…
TABLE 13-2A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses 6 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below: SUMMARY OUTPUT Regression Statistics Multiple R 0.885404 R Square 0.783941 Adjusted R Square 0.729926 Standard Error 16.29861 Observations 6 ANOVA df SS MS F Significance F Regression 1 3855.422 3855.422 14.51346 0.018946 Residual 4 1062.578 265.6446 Total 5 4918 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 161.3855 26.16069 6.16901 0.003506 88.75183 234.0193 88.75183 234.0193 price -48.1928 12.65017 -3.80965 0.018946 -83.3153 -13.0703 -83.3153 -13.0703 Referring to the above Table, what is the standard error of the estimate, Sε, for the data?
Read DetailsTABLE 13-9It is believed that, the average numbers of hours…
TABLE 13-9It is believed that, the average numbers of hours spent studying per day (HOURS) during undergraduate education should have a positive linear relationship with the starting salary (SALARY, measured in thousands of dollars per month) after graduation. Given below is the Excel output from regressing starting salary on number of hours spent studying per day for a sample of 51 students. NOTE: Some of the numbers in the output are purposely erased. ANOVA Referring to Table 13-9, the 90% confidence interval for the average change in SALARY (in thousands of dollars) as a result of spending an extra hour per day studying is
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