High Score the Longer You Play a Video Game, the Higher

question 107

Essay

High Score The longer you play a video game, the higher score you can usually achieve.
An analysis of a popular game found the following relationship between the hours a
player has played a game and their corresponding high score on that game.

Dependent variable is High Score
$\text { R-squared }=76.5 \%$
$\mathrm{s}=383.3$ with 89 degrees of freedom

$\begin{array}{lcc}\text { Variable }&\text { Coefficient}&\text { s.e. of Coeff}\\\text { Constant } & 524.8 & 145.3 \\ \text { Hours } & 2498.8 & 324.5\end{array}$

a. Write the regression equation and define the variables of your equation in context.
b. Interpret the slope in context.
c. Interpret the y-intercept in context.
d. Interpret s in context.
e. What is the correlation coefficient? Interpret this value in context.

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Definitions:

Pure Competition

A market condition characterized by a large number of small firms, identical products, and free entry and exit, leading to price-taking behavior.

Product Differentiation

A marketing strategy that businesses use to distinguish their products from similar offerings on the market.

Purely Competitive

Description of a market structure where there are many buyers and sellers, products are homogeneous, and there are no barriers to entering or exiting the market.

Price Strategies

Various approaches businesses use to set prices for their products or services with the aim of maximizing profitability and market share.