Purchase Solution

# Evaluating Regression Analysis

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Year 1986 1987 1988 1989 1990
Pz (\$) 14 15 15 16 17
Year 1991 1992 1993 1994 1995
Pz (\$) 18 17 18 19 20
Year 1996 1997 1998 1999 2000
Pz (\$) 20 19 21 21 22
Year 2001 2002 2003 2004 2005
Pz (\$) 23 23 24 25 25

Qx = 121.86 - 9.50PX + 0.04Y - 2.21 PZ
(-5.12) (2.18) (-0.68)

Qx = 121.86 - 9.50(-5.12) + 0.04(2.18) - 2.21(-0.68) =

Qx = 121.86 + 48.64 + .0872 + 1.50 =
Qx = 172.09

R2 = 0.9633 F = 167.33 D-W = 2.38

(b) Evaluate the regression results.

##### Solution Summary

Evaluating a regression analysis is modeled.

##### Solution Preview

R-square for regression requation is 0.9633 which indicates that about 96.33% variance in the quantity demanded is explained by the regression model. The values of R-square varies between 0 and 1. Since the value is quite close to 1, the model seems to be very ...

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