Shown below is a portion of a computer output for a regressi…
Shown below is a portion of a computer output for a regression analysis relating y (demand) and x (unit price).ANOVA dfSSRegression 15048.818Residual463132.661Total478181.479 CoefficientsStandard ErrorIntercept80.3903.102x –2.1370.248a.Perform a t test and determine whether demand and unit price are related. Let α = 0.05.b.Perform an F test and determine whether demand and unit price are related. Let α = 0.05.c.Compute the coefficient of determination and fully interpret its meaning. d.Compute the correlation coefficient and explain the relationship between demand and unit price.