TABLE 13-2A candy bar manufacturer is interested in trying t…
TABLE 13-2A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses 6 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below: Referring to Table 13-2, what percentage of the total variation in candy bar sales is explained by prices? (Hint: put the data in excel and use R to conduct the simple linear regression analysis)