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A Company Has Recorded Data on the Daily Demand for Its

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A company has recorded data on the daily demand for its product (Y in thousands of units) and the unit price (X in hundreds of dollars). A sample of 15 days demand and associated prices resulted in the following data. $\Sigma$ X = 75
$\Sigma$ Y- $A company has recorded data on the daily demand for its product (Y in thousands of units) and the unit price (X in hundreds of dollars). A sample of 15 days demand and associated prices resulted in the following data. \Sigma X = 75 \Sigma Y- ) \Sigma X- ) = -59 \Sigma Y = 135 \Sigma X- )2 = 94 \Sigma Y- )2 = 100 SSE = 62.9681 a.Using the above information, develop the least-squares estimated regression line and write the equation. b.Compute the coefficient of determination. c.Perform an F test and determine whether or not there is a significant relationship between demand and unit price. Let \alpha = 0.05. d.Would the demand ever reach zero? If yes, at what price would the demand be zero?$ ) $\Sigma$ X- $A company has recorded data on the daily demand for its product (Y in thousands of units) and the unit price (X in hundreds of dollars). A sample of 15 days demand and associated prices resulted in the following data. \Sigma X = 75 \Sigma Y- ) \Sigma X- ) = -59 \Sigma Y = 135 \Sigma X- )2 = 94 \Sigma Y- )2 = 100 SSE = 62.9681 a.Using the above information, develop the least-squares estimated regression line and write the equation. b.Compute the coefficient of determination. c.Perform an F test and determine whether or not there is a significant relationship between demand and unit price. Let \alpha = 0.05. d.Would the demand ever reach zero? If yes, at what price would the demand be zero?$ ) = -59
$\Sigma$ Y = 135
$\Sigma$ X- $A company has recorded data on the daily demand for its product (Y in thousands of units) and the unit price (X in hundreds of dollars). A sample of 15 days demand and associated prices resulted in the following data. \Sigma X = 75 \Sigma Y- ) \Sigma X- ) = -59 \Sigma Y = 135 \Sigma X- )2 = 94 \Sigma Y- )2 = 100 SSE = 62.9681 a.Using the above information, develop the least-squares estimated regression line and write the equation. b.Compute the coefficient of determination. c.Perform an F test and determine whether or not there is a significant relationship between demand and unit price. Let \alpha = 0.05. d.Would the demand ever reach zero? If yes, at what price would the demand be zero?$ )² = 94
$\Sigma$ Y- $A company has recorded data on the daily demand for its product (Y in thousands of units) and the unit price (X in hundreds of dollars). A sample of 15 days demand and associated prices resulted in the following data. \Sigma X = 75 \Sigma Y- ) \Sigma X- ) = -59 \Sigma Y = 135 \Sigma X- )2 = 94 \Sigma Y- )2 = 100 SSE = 62.9681 a.Using the above information, develop the least-squares estimated regression line and write the equation. b.Compute the coefficient of determination. c.Perform an F test and determine whether or not there is a significant relationship between demand and unit price. Let \alpha = 0.05. d.Would the demand ever reach zero? If yes, at what price would the demand be zero?$ )² = 100
SSE = 62.9681
a.Using the above information, develop the least-squares estimated regression line and write the equation.
b.Compute the coefficient of determination.
c.Perform an F test and determine whether or not there is a significant relationship between demand and unit price. Let $\alpha$ = 0.05.
d.Would the demand ever reach zero? If yes, at what price would the demand be zero?

A Company Has Recorded Data on the Daily Demand for Its

Essay

Correct Answer:Verifieda. = 12.138 - 0.6277Xb.R2 = 0...View AnswerUnlock this answer nowGet Access to more Verified Answers free of chargeView Full Answer For Free

Correct Answer:
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a. = 12.138 - 0.6277X
b.R² = 0...
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