TABLE 13-2 A Candy Bar Manufacturer Is Interested in Trying to Estimate

question 8

Multiple Choice

TABLE 13-2
A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses 6 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below:
-Referring to Table 13-2, what percentage of the total variation in candy bar sales is explained by prices?

• A) 100%
• B) 88.54%
• C) 78.39%
• D) 48.19%

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Definitions:

Hypothesis Test

A statistical method used to determine the probability that a hypothesis regarding a specific characteristic of a population is true.

P-value

The p-value is a measure in statistics that helps determine the significance of results, indicating the probability of observing the given results, or more extreme, by chance if a null hypothesis were true.

Democratic Candidate

An individual running for political office who is a member of or endorsed by the Democratic Party.

Surgical Site Infections

Infections that occur after surgery in the part of the body where the surgery took place.