An independent researcher wants to study the factors which affected the prices set by a leading AC manufacturing company, Chester, across the country for the year 2017. She studies whether theeffect on price, of the quantity demanded of ACs by the consumers, is significant or not. She selects a random sample of 200 retail outlets of the company and estimates the followingregression equation:P-800.75-12.58/n(Q),(8.98) (7.64)where is the predicted value of price of the ACs and In(Q) is the logarithm of the quantity demanded of ACs by the consumers. Standard errors are given in parentheses.The 95% confidence interval for the slope coefficient, will be(Round your answer to two decimal places. Enter a minus sign if your answer is negative.)Based on the calculated confidence interval, we can say that at the 5% significance level, we willthe hypothesis that/, =0.fail to rejectreject

The regression model is used to estimate the value of one variable by the value of the other…

An independent researcher wants to study the factors which affected the prices set by a leading AC manufacturing company, Chester, across the country for the year 2017. She studies whether the effect on price, of the quantity demanded of ACs by the consumers, is significant or not. She selects a random sample of 200 retail outlets of the company and estimates the following regression equation: P=800.75-12.58/n(Q), (8.98) (7.64) where P is the predicted value of price of the ACs and In(Q) is the logarithim of the quantity demanded of ACs by the consumers. Standard errors are given in parentheses. The 95% confidence interval for the slope coefficient, will be D (Round your answer to two decimal places. Enter a minus sign if your answer is negative.) Based on the calculated confidence interval, we can say that at the 5% significance level, we will the hypothesis that /,-0. fail to reject reject

An independent researcher wants to study the factors which affected the prices set by a leading AC manufacturing company, Chester, across the country for the year 2017. She studies whether the effect on price, of the quantity demanded of ACs by the consumers, is significant or not. She selects a random sample of 200 retail outlets of the company and estimates the following regression equation: P=800.75-12.58/n(Q), (8.98) (7.64) where P is the predicted value of price of the ACs and In(Q) is the logarithim of the quantity demanded of ACs by the consumers. Standard errors are given in parentheses. The 95% confidence interval for the slope coefficient, will be D (Round your answer to two decimal places. Enter a minus sign if your answer is negative.) Based on the calculated confidence interval, we can say that at the 5% significance level, we will the hypothesis that /,-0. fail to reject reject

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.5: Correlation And Causation

Problem 2AGP

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