Shown below is a portion of a computer output for regression analysis relating y (dependent variable) and x (independent variable).
a.What has been the sample size for the above?
b.Perform a t-test and determine whether or not x and y are related. Use 0.05.
c.Perform an F-test and determine whether or not x and y are related. Use 0.05.
d. Compute the coefficient of determination.e. Interpret the meaning of the value of the coefficient of determination that you found in d. Be very specific.
Definitions:
Economic Profit
The difference between a firm's total revenues and its total economic costs, including both explicit and implicit costs.
Diagram (A)
A graphical representation or chart designed to illustrate or explain concepts, processes, or data.
Allocative Inefficiency
A situation in which resources are not distributed optimally among producers or consumers, leading to a loss in economic efficiency.
Profit-Maximizing Output
The point of production where a company reaches its maximum profit, occurring when marginal cost is equal to marginal revenue.
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