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Regression Assignment | Professional Writing Services

Author:
January 23rd, 2020

Suppose that a company was trying to relate the number of units ordered to the offered price of the product. The computer printout provided the following equation:

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Number of Units = 1000 – 20 Price

Additionally, the printout gave the following information about the Price coefficient, the R-square value and the Standad Error of the Regression.

 

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PREDICTOR    COEF.       SE COEF.       T            P

Price               – 20                   2              2.04           ,015

s = 50                  R-Sq = 80

What percent of the variation in the NUMBER OF UNITS can be associated with the PRICE being offered?

20

80

 

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