Estimate Standard Error Intercept 22.59 13.01 Price -0.014 0.0056 RSquare = 59.7%. Express the corresponding least squares regression model. Interpret the slope coefficient Suppose Hyper City is launching a new beverage brand which is priced at OMR136. What will be the predicted sale? The proportion of variability in sales that is not accounted for by price is…… True/False : The correlation coefficient between price and sale is 0.773 Test whether sales have a significant linear association with price at 1% significance level. H0: Ha: Test statistic : t= (-0.014-0) / 0.0056 = -2.5 Based on the p-value (0.0198) obtained, what will you conclude in the context of the problem?

Estimate Standard Error Intercept 22.59 13.01 Price -0.014 0.0056 RSquare = 59.7%. Express the corresponding least squares regression model. Interpret the slope coefficient Suppose Hyper City is launching a new beverage brand which is priced at OMR136. What will be the predicted sale? The proportion of variability in sales that is not accounted for by price is…… True/False : The correlation coefficient between price and sale is 0.773 Test whether sales have a significant linear association with price at 1% significance level. H0: Ha: Test statistic : t= (-0.014-0) / 0.0056 = -2.5 Based on the p-value (0.0198) obtained, what will you conclude in the context of the problem?

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter7: Distance And Approximation

Section7.3: Least Squares Approximation

Problem 31EQ

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