Question: SUMMARY EXCEL REGRESSION OUTPUT Regression Statistics Multiple R 0.971 R-Square A Adjusted R-Square B Standard Error 30.462 Observations 51 ANOVA df SS MS F Significance

SUMMARY EXCEL REGRESSION OUTPUT

Regression Statistics

Multiple R 0.971

R-Square A

Adjusted R-Square B

Standard Error 30.462

Observations 51

ANOVA

df SS MS F Significance F

Regression C 747851.57 373925.79 402.98 9.89E-31

Residual 48 D 927.91

Total 50 792391.11

Coefficients Standard Error t Stat P-value Lower 95% Upper 95%

Intercept 62.13 26.79 1.60E-30 1539.66 1789.51

Price of Roses 6.68 1.41 1.64E-01 16.16 2.81

Income (M) 9.73 0.34 1.23E-31 9.04 10.42

(e) does the impact of income on quantity demanded of roses help explain why the coefficient of

price is significant (or insignificant, as the case may be). Please explain.

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