Question

A manufacturer els paperback books in the retail stores and wanted to examine the relationship between price and demand. The price of a particular novel was adjusted each week and the weekly sales were recorded in the accompanying table Management would like to use pregression analysis to estime wekly demand for his novel using the price of the novel What is the standard error of the slope? Click the icon to view the sales results of the novel les reste DA 08122 OB 0.3311 OC 0.6810 Price OD 0.5817 $12 $11 $10 10 59 sa 10 Print Done

Answer 1

Let weekly X be price of the novel Cin $ y be demand here, X be independent variable and y be response variable. know that The fitted regression equation is given by A Y= atba where, ã is estimate of y-intercept of line, Ŝ is estimate of slope of line. want Rind, the standard esor of the slope. s.e.16) Misres Sase

Daca Noce we have, a @ Ssay Sare where, SS4y= {(x)-7) 141-7) Slx = {(xi-x2 (x4-x)2 6.25 2.25 14.699 8.028 0.25 0.25 -9.5833 -4.25 -0.4167 -1.5833 -1.75 -7.9167 -25.5 0.694 10,028 2.25 6.25 1.361 10.028 Total 44.833 b = -1.4571 -25.5 17.5 mas n = 6 b + here, {xi=5 T= {xi - 5795 {yi=41 ý = Iyi 6.8333 6 6,8333 – (-1.4571) 19:5) 20.6862 - fitted regression line is 4 20.676 2 - 1.4571 X,

here SST = Elyi-y)2 = 44.833 know that SST ĥss xy = 44.883-(-1.4571) (-25.5) 7.6 7.70 Stress ... MSRes = = 7. 6770 = 1.9192 SSRES ne2 :. se.ch Mires Saus 1.9192 17.5 5. e. ( 6 ) = 0.3311 : Ansa Ко 0.3311