You may need to use the appropriate technology to answer this question. Consider the partial output below from a regression analysis relating the variables below: • y product supply (in thousands of units) • x = unit price (in thousands of dollars) ANOVA Intercept df Regression 1 357.689 Residual 40 7,045.262 X SS Coefficients 50.066 0.0869 Standard Error 2.758 0.061 (a) What has been the sample size for this problem? For every increase of $1,000 in unit price, the supply --Select--- by number). (b) Compute the coefficient of determination. (Round your answer to four decimal places.) units (round your answer to the nearest whole Interpret its meaning. Be very specific. (Give your answer as a percent. Round your answer to two decimal places.) The value of the coefficient of determination tells us that squares line. (c) Compute the coefficient of correlation. (Round your answer to four decimal places.) % of the variability in --?--has been explained by the least (f) Predict the supply (in units) when the unit price is $50,000. units Explain the relationship between supply and unit price. The coefficient of correlation is ---Select--- V indicating that as unit price increases, supply ---Select---

You may need to use the appropriate technology to answer this question. Consider the partial output below from a regression analysis relating the variables below: • y product supply (in thousands of units) • x = unit price (in thousands of dollars) ANOVA Intercept df Regression 1 357.689 Residual 40 7,045.262 X SS Coefficients 50.066 0.0869 Standard Error 2.758 0.061 (a) What has been the sample size for this problem? For every increase of $1,000 in unit price, the supply --Select--- by number). (b) Compute the coefficient of determination. (Round your answer to four decimal places.) units (round your answer to the nearest whole Interpret its meaning. Be very specific. (Give your answer as a percent. Round your answer to two decimal places.) The value of the coefficient of determination tells us that squares line. (c) Compute the coefficient of correlation. (Round your answer to four decimal places.) % of the variability in --?--has been explained by the least (f) Predict the supply (in units) when the unit price is $50,000. units Explain the relationship between supply and unit price. The coefficient of correlation is ---Select--- V indicating that as unit price increases, supply ---Select---

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter4: Linear Functions

Section: Chapter Questions

Problem 30PT: For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or...

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