Question

A manufacturer sells paperback books in their relationes and wanted to cumine the relationship between price and demand. The price of a particular novel was deach week and the weekly we were recorded in the company table Management would like toute simple regression analysis to estimate workly demand for his noveling the price of the novel What is the more error fors? m Cick the icon to view the sample sale results for a partir novel Data Table OA 70 OB 11.31 OG 924 OD 14.30 4 6 10 $12 $11 $10 $0 $ $7 10 Print Done

Answer 1

By using the Excel (Mega stat) to develop the regression analysis with following instructions: . . Enter the data in excel sheet. Click on add ins - >correlation/ regression -> regression. Choose regression/correlation ->regression In regression dialog box, enter the input range of x as price and y as sales. Confidence level as 0.95 Click ok. . . Output:

Regression Analysis p2 0.829 r -0.910 Std. Error 1.385 n 6 k 1 Dep. Var. Y df ANOVA table Source Regression Residual Total F 19.36 MS 37.1571 1.9190 p-value .0117 1 SS 37.1571 7.6762 44.8333 4 5 X1 Regression output confidence interval variables coefficients std. error t (df=4) p-value 95% lower 95% upper Intercept 20.6762 3.1963 6.469 0029 11.8017 29.5507 -1.4571 0.3311 -4.400 .0117 -2.3766 -0.5377 From the output, the sum of squares of error is, SSE = 7.6762 7.68 Correct answer is option (A)