Answered: What is the standard error of the estimate (se )? 105.182 1.754 o 1.532 What is the estimate of the standard deviation of the estimated slope (sb )? 0.028 1.897…

MATLAB: An Introduction with Applications

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ISBN: 9781119256830

Author: Amos Gilat

Publisher: John Wiley & Sons Inc

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Please help with unanswered questions. Thank you!

The Pilot Pen Company has decided to use 15 test markets to examine the sensitivity of demand
for its new product to various prices, as shown in the following table. Advertising effort was
identical in each market. Each market had approximately the same level of business activity and
population.
Complete the following worksheet and then estimate the demand function for Pilot's new pen using
a linear regression model.
Price Charged
Quantity Sold
(Thousands of Pens)
Test Market
(cents)
xị
yi
Xi yi
yi?
1
50
20
1,000
2,500
400
2
50
21
1,050
2,500
441
55
19
1,045
3,025
361
4
55
19.5
1,072.5
3,025
380.25
60
20.5
1,230
3,600
420.25
6.
60
19
1,140
3,600
361
7
65
15.5
1,007.5
4,225
240.25
8
65
15
975
4,225
225
9.
70
14.5
1,015
4,900
210.25
10
70
15.5
1,085
4,900
240.25
11
80
13
1,040
6,400
169
12
80
14
1,120
6,400
196
13
90
11.5
1,035
8,100
132.25
14
90
11
990
8,100
121
15
40
17
680
1,600
289
Total
980
246
15,485
67,100
4,186.5 ▼
Regression Parameters Estimations
Slope (B)
Intercept (a)
-0.191 ▼
28.879
What is the standard error of the estimate (se )?
105.182
1.754
1.532
What is the estimate of the standard deviation of the estimated slope (sh )?
0.028
1.897
0.032
Can you reject the hypothesis (at the 0.05 level of significance) that there is no relationship (i.e.,
B = 0 ) between the price and quantity variables? (Hint: 10.025,13 2.16
No
Yes

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