Shown below is a portion of a computer output for a regression analysis relating supply

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Question 2

Shown below is a portion of a computer output for a regression analysis relating supply (Y in thousands of units) and unit price (X in thousands of dollars).
ANOVA

df SS

Regression 1 354.689

Residual 39 7035.262

Coefficients Standard Error

Intercept 54.076 2.358

X 0.029 0.021

a. What has been the sample size for this problem?
b.Determine whether or not demand and unit price are related. Use α = 0.05.
c. Compute the coefficient of determination and fully interpret its meaning. Be very specific.
d. Compute the coefficient of correlation and explain the relationship between supply and unit price.
e. Predict the supply (in units) when the unit price is $50,000.

Hint

df_total = df_regression + df_residualcalculated ANOVA table:sourcedfSSMSFP-VALUEregression1354.69354.691.966230.1687589error397035.26180.391 total407389.95184.749 ...

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