candy bar To do will conduct a simple prices. Using City on data below the sales

Question

candy bar To do will conduct a simple prices. Using City on data below the sales company randomly chooses 6 small ties and offers the River Falls 1.30 100 Hudson Ellsworth 1.80 90 Prescott 2.00 40 Rock Elma 240 38 Stillwater 2.90 32 SUMMARY ssion Statistics Multiple R R Square 0.783940969 Adjusted square 0.729926212 Standard Error 16.29860664 Observations ANOVA F cance 1 3855.421687 3855.422 14.51346 0.018945781 Regression Residual 1062.578313 265.6446 Total 4918 Standard Coefficients Error t Stat P-value Lower 95% Upper 9 161.3855422 26.16 6.16901 0.003506 88.75183241 234.019 Intercept price (S) -48.19277108 12.65017211 3.80965 0.018946 83.31527952 13.0702

Explanation / Answer

Ans

In the table the slope parameter for the candy bar price and sales data i.e. beta 1 = -48.193

In the table in column of coefficients given to you the value of slope parameter .

and the value of intercept is 161.386

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