Question 4.04 TABLE 1 Q Q* 10 13 12

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter5: Business And Economic Forecasting
Section: Chapter Questions
Problem 1.2CE: Plot the logarithm of arrivals for each transportation mode against time, all on the same graph....
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Question 4.04
TABLE 1
Q
Q*
8
10
13
12
16
15
11
12
From Table 1 above, calculate R-squared.
Round to two decimal places.
Answer:
.01
Transcribed Image Text:Question 4.04 TABLE 1 Q Q* 8 10 13 12 16 15 11 12 From Table 1 above, calculate R-squared. Round to two decimal places. Answer: .01
Expert Solution
Step 1

Here we know that, R- squared is known as the correlation coefficient.

Mean of Q (Q¯) = 8+13+16+114

                  =48/4

                  =12

Mean of Q*  (Q*¯)= 10+12+15+124=49/4=12.25

 

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