You decide to predict gasoline prices in different cities and towns in the Unite

Question

You decide to predict gasoline prices in different cities and towns in the United States for your term project. Your dependent variable is price of gasoline per gallon and your explanatory variables are per capita income, the number of firms that manufacture automobile parts in and around the city, the number of new business starts in the last year, population density of the city, percentage of local taxes on gasoline, and the number of people using public transportation.
You collected data of 32 cities and obtained a regression sum of squares SSR = 122.8821. Your computed value of standard error of the estimate is 1.9549. What is the value of the coefficient of multiple determination?

A). 0.2225

B). 0.4576

C). 0.5626

D). 036472

Explanation / Answer

C) 0.5626

1.9549*(32+5-2) / 122.8821 = 0.5568

is almost the literal C

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