4. A company has recorded data on the daily demand for its product (y in thousands of units) and the unit price (x in hundreds of dollars). A sample of 15 days demand and associated prices resulted in the following data. Ex=75 Ex²=469 Ey=135 Ey² = 1315 e. Compute the standard error of the estimate. Σxy=616 f. Compute the estimated standard deviation of b₁. g. Use the t test to test the following hypothesis B₁ = 0 at a = .05. What is your conclusion?
4. A company has recorded data on the daily demand for its product (y in thousands of units) and the unit price (x in hundreds of dollars). A sample of 15 days demand and associated prices resulted in the following data. Ex=75 Ex²=469 Ey=135 Ey² = 1315 e. Compute the standard error of the estimate. Σxy=616 f. Compute the estimated standard deviation of b₁. g. Use the t test to test the following hypothesis B₁ = 0 at a = .05. What is your conclusion?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section: Chapter Questions
Problem 22SGR
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