Shown below is a portion of acomputer output for a regression analysis relating Y (demand) and X (unitprice).

ANOVA

df

SS

Regression

1

5048.818

Residual

46

3132.661

Total

47

8181.479

Coefficients

Standard Error

Intercept

80.390

3.102

X

-2.137

0.248

a. Determine whether or not demand and unit price are related. Use α = 0.05.

b. Compute the coefficient of determination and fully interpret its meaning.

Be very specific.

c. Compute the coefficient of correlation and explain the relationship between demand and unit price.

Shown below is a portion of acomputer output for a regression analysis relating Y (demand) and X (unitpric appeared first on WriteDen.

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