The table shows the total square footage (in billions) of retailing space at shopping centers and their sales (in billions of dollars) for 10 years. The equation of the regression line is y = 602.959x - 2154.582. Complete parts a and b. Total Square Footage, x Sales, y 5.1 5.2 5.1 5.3 5.4 5.7 5.7 5.8 5.9 6.1 891.1 949.7 982.8 1054.9 1111.3 1216.2 1287.5 1328.9 1430.8 1544.6 (a) Find the coefficient of determination and interpret the result. (Round to three decimal places as needed.) How can the coefficient of determination be interpreted? O A. The coefficient of determination is the fraction of the variation in sales that can be explained by the variation in total square footage. The remaining fraction of the variation is unexplained and is due to other factors or to sampling error. O B. The coefficient of determination is the fraction of the variation in sales that is unexplained and is due to other factors or sampling error. The remaining fraction of the variation is explained by the variation in total square footage. (b) Find the standard error of estimate s, and interpret the result. (Round the final answer to three decimal places as needed. Round all intermediate values to four decimal places as needed.) How can the standard error of estimate be interpreted? O A. The standard error of estimate of the sales for a specific total square footage is about s, billion dollars. O B. The standard error of estimate of the total square footage for a specific number of sales is about s, billion dollars.
The table shows the total square footage (in billions) of retailing space at shopping centers and their sales (in billions of dollars) for 10 years. The equation of the regression line is y = 602.959x - 2154.582. Complete parts a and b. Total Square Footage, x Sales, y 5.1 5.2 5.1 5.3 5.4 5.7 5.7 5.8 5.9 6.1 891.1 949.7 982.8 1054.9 1111.3 1216.2 1287.5 1328.9 1430.8 1544.6 (a) Find the coefficient of determination and interpret the result. (Round to three decimal places as needed.) How can the coefficient of determination be interpreted? O A. The coefficient of determination is the fraction of the variation in sales that can be explained by the variation in total square footage. The remaining fraction of the variation is unexplained and is due to other factors or to sampling error. O B. The coefficient of determination is the fraction of the variation in sales that is unexplained and is due to other factors or sampling error. The remaining fraction of the variation is explained by the variation in total square footage. (b) Find the standard error of estimate s, and interpret the result. (Round the final answer to three decimal places as needed. Round all intermediate values to four decimal places as needed.) How can the standard error of estimate be interpreted? O A. The standard error of estimate of the sales for a specific total square footage is about s, billion dollars. O B. The standard error of estimate of the total square footage for a specific number of sales is about s, billion dollars.
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter3: Straight Lines And Linear Functions
Section3.CR: Chapter Review Exercises
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Transcribed Image Text:The table shows the total square footage (in billions) of retailing space at shopping centers and their sales (in billions of dollars) for 10 years. The equation of the regression line is y = 602.959x - 2154.582. Complete parts a and b.
Total Square
Footage, x
Sales, y
5.1
5.2
5.1
5.3
5.4
5.7
5.7
5.8
5.9
6.1
891.1 949.7 982.8 1054.9 1111.3 1216.2 1287.5 1328.9 1430.8 1544.6
...
(a) Find the coefficient of determination and interpret the result.
(Round to three decimal places as needed.)
How can the coefficient of determination be interpreted?
O A. The coefficient of determination is the fraction of the variation in sales that can be explained by the variation in total square footage. The remaining fraction of the variation is unexplained and is due to other factors or to sampling error.
O B. The coefficient of determination is the fraction of the variation in sales that is unexplained and is due to other factors or sampling error. The remaining fraction of the variation is explained by the variation in total square footage.
(b) Find the standard error of estimate s, and interpret the result.
(Round the final answer to three decimal places as needed. Round all intermediate values to four decimal places as needed.)
How can the standard error of estimate be interpreted?
O A. The standard error of estimate of the sales for a specific total square footage is about s, billion dollars.
O B. The standard error of estimate of the total square footage for a specific number of sales is about s, billion dollars.
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