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In: Statistics and Probability

PART B The following output was obtained from a regression analysis of the dependent variable Rating...

PART B

  1. The following output was obtained from a regression analysis of the dependent

variable Rating and an independent variable Price. (10 points)

ANOVA

df                          SS                      MS               F

Regression             1                      372.707              372.707      42.927

Residual                15                     130.234                8.682

Total                        16                     502.941

Coefficients       Standard Error          t Stat        P-value

Intercept             45.623                   3.630                 12.569        0.000

Price                    0.107                    0.016                  6.552         0.000

  1. Use the critical value approach to perform an F test for the significance of the linear relationship between Rating and Price at the 0.05 level of significance.
  2. Calculate the coefficient of determination.
  3. What percentage of the variability of Rating can be explained by its linear

relationship with Price? What is the sample correlation coefficient?

  1. What is the estimated regression equation?
  2. Use the p-value approach to perform a t test for the significance of the linear relationship between Price and Rating at the 0.05 level of significance.

Solutions

Expert Solution

orchestra answered 2 years ago
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