Find the Explained Variation for the Paired Data $\hat { y } = 6.18286 + 4.33937 x$

question 28

Multiple Choice

Find the explained variation for the paired data. The equation of the regression line for the paired data below is $\hat { y } = 6.18286 + 4.33937 x$
$\begin{array} { r | r r r r r r r } \boldsymbol { x } & 9 & 7 & 2 & 3 & 4 & 22 & 17 \\\hline \boldsymbol { y } & 43 & 35 & 16 & 21 & 23 & 102 & 81\end{array}$

• A) 13.479
• B) 6,531.37
• C) 6,544.86
• D) 6,421.83

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Definitions:

Efficiency Loss

The loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is unattainable, leading to a mismatch between supply and demand.

Empirical Studies

Research or studies based on actual and observable evidence, typically involving systematic observation or experimentation.

Unionized Firms

Companies or organizations where the workforce is represented by a union, which negotiates wages, working conditions, and other employment terms.

Productivity

A measure of the efficiency of production often quantified as the ratio of outputs produced to inputs used over a specified period.