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A multiple regression analysis produced the following output from Minitab. Regression Analysis: Y versus x1 and x2
Predictor Coef SE Coef T P
Constant -0.0626 0.2034 -0.31 0.762
X1 1.1003 0.5441 2.02 0.058
X2 -0.8960 0.5548 -1.61 0.124
S = 0.179449 R-Sq = 89.0% R-Sq(adj) = 87.8%
Analysis of Variance
Source DF SS MS F P
Regression 2 4.7013 2.3506 73.00 0.000
Residual Error 18 0.5796 0.0322
Total 20 5.2809
These results indicate that ____________.
Goes Up 20%
Represents an increase by a fifth from a previous value or level, often used in financial contexts to describe growth.
Phillips Gasoline
Phillips Gasoline refers to gasoline produced and marketed by Phillips 66, an American energy company, recognized for its quality and performance fuel products.
Calculate Elasticity
The process of determining the measure of responsiveness of the quantity demanded or quantity supplied of a good to a change in one of its determinants, such as price or income.
Unit Elastic
A situation in economics where a change in the price of a good leads to a proportional change in quantity demanded or supplied.
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