Question: Explain F-statistics and R-values. SUMMARY OUTPUT Regression Statistics Price Demand Elasticity Multiple R 0.80232596 Porter House 68.40 R Square 0.64372695 Own Price -2.481 Adjusted

Explain F-statistics and R-values.

 

SUMMARY OUTPUT
Regression Statistics Price Demand Elasticity
Multiple R 0.80232596 Porter House 68.40
R Square 0.64372695 Own Price -2.481
Adjusted R Square 0.6152251 Cross Elasticity 1.695
Standard Error 21.7432436 Income Elasticity 1.21418679
Observations 55
ANOVA
df SS MS F Significance F
Regression 4 42710.768 10677.69199 22.5854489 1.06512E-10
Residual 50 23638.432 472.7686405
Total 54 66349.2
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Intercept 51.1275538 250.828002 0.203835112 0 -452.6753144 554.930422 -452.675314 554.930422
PHP -25.5354989 5.15455494 -4.953967735 8.7123E-06 -35.88872718 -15.1822706 -35.8887272 -15.1822706
ChickP 68.3772029 47.9744802 1.425282828 0.16028843 -27.98237659 164.736782 -27.9823766 164.736782
DiscInc 0.00897565 0.02403096 0.373503784 0.71035255 -0.039291941 0.05724325 -0.03929194 0.05724325
Trend -0.42865844 0.75668588 -0.566494569 0.57359182 -1.948506757 1.09118988 -1.94850676 1.09118988

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