Q12. Answer the following based on the regression output shown below. This is a model built to predict the sales (measured in $) of the iPhone 14. The independent variables used are as follows: Price of the iPhone 14 - Measured in $. Price of the Samsung Galaxy S23 - Measured in $. Temperature - Measured in Fahrenheit. SUMMARY OUTPUT Multiple R R Square Adjusted R Square Standard Error Observations ANOVA Regression Statistics Regression Residual Total 0.999991626 0.999983252 0.999982729 15.99566769 of 100 SS MS Significance F 3 1466577068 488859022.5 1910640.103 4.4331E-229 96 24562.69293 255.8613847 99 1466601630 Intercept t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Coefficients Standard Error 100016.3769 36.60487765 2732.323759 1.4169E-236 99943.71677 100089.037 99943.71677 100089.037 -74.942135 -74.942135 -75.06672874 5.421E-231 -75.06672874 0.031384063 -2389.889152 -75.00443187 0.030808678 259.3567239 1.9729E-138 7.929282974 8.051592457 7.929282974 8.051592457 Price of the Samsung Galaxy S23 ($) 7.990437716 -0.084064938 0.085322977 -0.985255572 0.326975233 -0.253429709 0.085299832 -0.253429709 0.085299832 Temperature (Fahrenheit) Price of the iPhone 14 ($) a) [4 points] How much of the variation in the sales of the iPhone 14 is explained by this model? How did you decide on this value? J

Q12. Answer the following based on the regression output shown below. This is a model bulit to predict the sales (measured in \$) of the IPhone 14. The independent variables used are as follows: Price of the iPhone 14 - Measured in \$. Price of the Samsung Galaxy $23 - Measured in \$. Temperature - Measured in Fahrenheit. SUMmuar outruT a) [ 4 points] How much of the variation in the sales of the iPhone 14 is explained by this model? How did you decide on this value? b) [6 points] Which of the independent variables are statistically significant? Please explain why you decided that these specific variables are statistically significant. c) [6 points] Interpret the coefficient of the variable titled "Price of the iPhone 14". Please ensure the you use the correct units in your interpretation. d) [4 points] A model with just one independent variable "Price of the iPhone 14 " has an adjusted R-squared of 0.78 (Let us call this model B). Would you conclude that model B is better than the original model used? Justify your answer. Q12. Answer the following based on the regression output shown below. This is a model bulit to predict the sales (measured in \$) of the IPhone 14. The independent variables used are as follows: Price of the iPhone 14 - Measured in \$. Price of the Samsung Galaxy $23 - Measured in \$. Temperature - Measured in Fahrenheit. SUMmuar outruT a) [ 4 points] How much of the variation in the sales of the iPhone 14 is explained by this model? How did you decide on this value? b) [6 points] Which of the independent variables are statistically significant? Please explain why you decided that these specific variables are statistically significant. c) [6 points] Interpret the coefficient of the variable titled "Price of the iPhone 14". Please ensure the you use the correct units in your interpretation. d) [4 points] A model with just one independent variable "Price of the iPhone 14 " has an adjusted R-squared of 0.78 (Let us call this model B). Would you conclude that model B is better than the original model used? Justify your