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Predicting sales, coefficients of determination, and identifying p-values for slopes

1. For the data given, predict the sales when square footage is 2.6 and number of stores is 1950.

2. For the output interpret coefficient of determination and adjusted coefficient of determination, show how adjusted coefficient was calculated.

3. Identify p-values for the slopes. What do you conclude about significance of independent variables in the model?

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1. We regress the model to be
Y = -218.69 +103.41 X1 + 0.13 X2
When x1 = 2.6 and x2 = 1950,
Y = -218.69 +103.41 * 2.6 + 0.13 *1950 = 303.68

2. The coefficient of determination, r 2, is proportion of the variance (fluctuation) of Y that is predictable from X. It is a measure that allows us to ...

Solution Summary

The solution provides brief, clear explanations on how to solve 3 problems regarding predicting sales, coefficients of determination, and identifying p-values for slopes. The expert consults a provided table.

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