Question: A company has recorded data on the weekly sales for its product ( y ) and the unit price of the competitor's product ( x ). The data resulting from a random sample of 7 weeks follows. Use Excel's Regression Tool to answer the following questions.

Week Price Sales

1 .33 20

2 .25 14

3 .44 22

4 .40 21

5 .35 16

6 .39 19

7 .29 15

1. What is the estimated regression equation?
2. Perform a t test and determine whether or not x and y are related. Use   0.05.
3. Perform an F test and determine whether or not x and y are related. Use   0.05.
4. Find and interpret the coefficient of determination.

Price: $2.99

Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document