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shown below is a portion of a computer output for a regression analysis relating supply (y in housands of units) and unit price (x in thousands of dollars). ANOVA Regression Residual df 1 39 SS 354.689 7035.262

shown below is a portion of a computer output for a regression analysis relating supply (y in housands of units) and unit price (x in thousands of dollars). ANOVA Regression Residual df 1 39 SS 354.689 7035.262

College Algebra
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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Shown below is a portion of a computer output for a regression analysis relating supply (y in thousands of units) and unit price (x in thousands of dollars). ANOVA Regression Residual Intercept X df 1 39 Coefficients 54.076 0.029 SS 354.689 7035.262 Standard Error 2.358 0.021 a. Calculate the t statistic. Let a = .05.Type in your t statistic to 3 decimals: Do you Reject or Fail to Reject the Null Hypothesis? Type in Reject or Fail to Reject: b. Calculate your Fisher statistic and round to 3 decimals: c. Compute the coefficient of determination Round to 3 decimals: 0.421 d. Compute the coefficient of correlation Round to 3 decimals: 0.177 e. Predict the supply (in units) when the unit price is $50,000.: 56.976
Transcribed Image Text:Shown below is a portion of a computer output for a regression analysis relating supply (y in thousands of units) and unit price (x in thousands of dollars). ANOVA Regression Residual Intercept X df 1 39 Coefficients 54.076 0.029 SS 354.689 7035.262 Standard Error 2.358 0.021 a. Calculate the t statistic. Let a = .05.Type in your t statistic to 3 decimals: Do you Reject or Fail to Reject the Null Hypothesis? Type in Reject or Fail to Reject: b. Calculate your Fisher statistic and round to 3 decimals: c. Compute the coefficient of determination Round to 3 decimals: 0.421 d. Compute the coefficient of correlation Round to 3 decimals: 0.177 e. Predict the supply (in units) when the unit price is $50,000.: 56.976
If Error (Epsilon) is normally distributed, then almost all of the standardized residuals ought to fall between: -2 and 2
Transcribed Image Text:If Error (Epsilon) is normally distributed, then almost all of the standardized residuals ought to fall between: -2 and 2
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