Shown Below Is a Portion of a Computer Output for a Regression

question 35

Essay

Shown below is a portion of a computer output for a regression analysis relating Y demand) and X unit price).
ANOVA
$\begin{array}{lrr}&df&SS\\\text { Regression } & 1 & 5048.818 \\\text { Residual } & 46 & 3132.661 \\\text { Total } & 47 & 8181.479\end{array}$

$\begin{array}{lll}&\text { Coefficients }&\text { Standard Error }\\\text { Intercept } & 80.390 & 3.102 \\\mathrm{X} & -2137 & 0248\end{array}$
a. Perform a t test and determine whether or not demand and unit price are related. Let α = 0.05.
b. Perform an F test and determine whether or not demand and unit price are related. Let α = 0.05.
c. Compute the coefficient of determination and fully interpret its meaning. Be very specific.
d. Compute the coefficient of correlation and explain the relationship between demand and unit price.

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Definitions:

Retailer's Store

A business establishment that sells goods directly to the public, typically from a physical location.

Customers

Individuals or organizations that purchase goods or services from a business, determining its success through their satisfaction and loyalty.

Technology

The application of scientific knowledge for practical purposes, particularly in industry and everyday life.

Account Control

The process of managing and overseeing a customer account to ensure satisfaction, retention, and profitability.