SCENARIO 12-2
a Candy Bar Manufacturer Is Interested in Trying

question 135

Multiple Choice

SCENARIO 12-2
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: $\begin{array}{llr}\text { City }&\text { Price(\$) }&\text { Sales }\\\text { River Falls } & 1.30 & 100 \\\text { Hudson } & 1.60 & 90 \\\text { Ellsworth } & 1.80 & 90 \\\text { Prescott } & 2.00 & 40 \\\text { Rock Elm } & 2.40 & 38 \\\text { Stillwater } & 2.90 & 32\end{array}$
-Referring to Scenario 12-2, 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:

Adjustment

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An individual’s subjective evaluation of their own worthiness and value.

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The period in human life when an individual is considered fully developed and mature, both physically and mentally.