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TABLE 13-2 A Candy Bar Manufacturer Is Interested in Trying to Estimate

question 8

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TABLE 13-2
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: TABLE 13-2 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:   -Referring to Table 13-2, 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%
-Referring to Table 13-2, what percentage of the total variation in candy bar sales is explained by prices?


Definitions:

Attitudes

An established pattern of thoughts or sentiments directed towards a person or thing that usually influences one's actions.

Behaviors

The actions or reactions of individuals or groups in response to external or internal stimuli.

Social Learning

A theory that suggests people learn new behaviors and acquire new information by observing and mimicking others, as well as through direct instruction.

Cognitive Dissonance

The mental discomfort experienced by a person who holds two or more contradictory beliefs, ideas, or values at the same time, leading to an alteration in one of the attitudes, beliefs, or behaviors to reduce the discomfort and restore balance.

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