Refer to elliptical spreadsheet where the following data were used to investigate whether higher pri
Question: Refer to elliptical spreadsheet where the following data were used to investigate whether higher prices are generally associated with higher ratings for elliptical trainers.
With x=price ($) and y=rating, the estimated regression equation is ^y = 58.158 + .008449x. For these data, SSE = 173.88
a. Compute the coefficient of determination r2
b. Did the estimated regression equation provide a good fit? Explain.
c. What is the value of the sample correlation coefficient? Does it reflect a strong or weak relationship between price and rating?
Price: $2.99
Solution: The answer consists of 2 pages
Solution Format: Word Document
Solution Format: Word Document
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