The linear model in Exercise 13 predicting Sales of frozen pizza (in kilograms) from Price ($/unit) has
Question:
The linear model in Exercise 13 predicting Sales of frozen pizza (in kilograms) from Price ($/unit) has an R2 of 32.9% and a slope of -24,369.5.
a) Interpret the meaning of R2.
b) What is the correlation of Sales and Price?
c) If in one week the Price is $0.50 higher than in another, what is the predicted difference in Sales?
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Related Book For
Business Statistics
ISBN: 9780133899122
3rd Canadian Edition
Authors: Norean D. Sharpe, Richard D. De Veaux, Paul F. Velleman, David Wright
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