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Regression analysis : R square

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For each of 10 popular prescription drugs, file XR15042 lists the retail price (in U.S. dollars) for the drug in several different countries, including the United States, Canada, Great Britain, and Australia. Determine and interpret the coefficients of correlation and determination for U.S. prices versus Canadian prices.

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Solution Summary

The solution provides step by step method for the calculation of regression model and R square . Formula for the calculation and Interpretations of the results are also included.

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Please see the attachments for explanation.

The correlation between X,Y is given by the formula

Drug US Price :X Canada Price ...

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