A Company Has Recorded Data on the Weekly Sales for Its

question 64

Essay

A company has recorded data on the weekly sales for its product (y) and the unit price of the competitor's product (x). The data resulting from a random sample of 7 weeks follows. Use Excel's Regression Tool to answer the following questions.

a.What is the estimated regression equation?
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.Find and interpret the coefficient of determination.

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Definitions:

Poorhouses

Institutions that provided support and shelter for the impoverished and destitute, historically common in the 19th and early 20th centuries.

Significant Career

A profession or occupation that an individual pursues, often with considerable dedication and achievement, that has a meaningful impact on their field or society.

Common Schools

Tax-supported state schools of the early nineteenth century open to all children.

Nineteenth Century

The period from January 1, 1801, to December 31, 1900, marked by significant industrial, cultural, and political developments worldwide.