Question

Refer to exercise 9 where the following data were used to investigate the relationship between the number of cars in service (1000s) and the annual revenue ($millions) for six smaller car rental companies (auto Rental News website, August 7, 2012).


With x = 5 cars in service (1000s) and y = annual revenue ($millions), the estimated regression equation is y = – 17.005 + 12.966x. For these data, SSE = 1043.03.
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 the number of cars in service and the annualrevenue?


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  • CreatedFebruary 16, 2015
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