Question

Find the coeficient of determination The coefficient is__ 3 9) The coefficient of determination (2) tells you A) whether has any significance B) that the coefficient of correlation () is larger than 1 C) that you should not partition the total variation D) the proportion of total variation that is explained. SCENARIO 12-2 A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their prodita this the company randomly chooses 6 small cities and offers the candy bar at different prices Using candy bar esas the dependent variable, the company will conduct a simple linear regression on the data below (Use stat disk Price ($) 1.30 1 60 1.80 2.00 2.40 2.90 Sales 100 90 90 River Falls Hudson Ellsworth Prescott Rock Elm Stillwater 40 10) Referring to Scenario 12-2, what is the estimated slope for the candy bar price and sales data? A)-3.810 B) -48.193 C) 161.386 D) 0.784 11) Referring to Scenario 12-2, what is the estimated y-intercept for the candy bar price and sales data? 12) Referring to Scenario 12-2, what is the regression equation for the candy bar price and sales data? 13) Referring to Scenario 12-2, what is the correlation coefficient between the candy bar price and sales data? Solve the problem. 14) A survey of the interest rates earned by Certificates of Deposit (CDs) showed the following percents for the length of time (in years) for holding the CD. Let length of time represent the independent variable and interest rate represent the dependent variable. Use a graphing utility to draw a scatter diagram and to find the line of best fit. What is the estimate of the interest rate for a CD held for 30 years (to the nearest thousandth)? CD Maturit (VoInterest rate (S) 3.18 3.470 8.496 3.550 6.625 A) 8.675 B) 8.874 C) 8.669 D) 9.064

Answer 1

From the given information,

By using calculator,

The required correct answers are,

9) D) the proportion of total variation that is explained.

10) Slope= B) -48.193

11) y-intercept= 161.3855

12) Sales= 161.3855 - 48.193*(Price($))

13) correlation coefficient (r)= -0.8854

14) C) 8.669

Thank you.