1.For the given data, determine the R-squared value for the given data
Data:
Miles travel (independent variable) Petrol Consumption in litre (dependent variable)
20 1
45 3
56 5
34 2
28 1.6
49 3.7
3.State TRUE or FALSE, in context to regression analysis –
Statement: "The variance of error, is same for all values of the independent variable"
Y = 30,000 + 5 X
The above equation implies that an:
7.Regression analysis was applied between demand for a product (Y) and the price of the product (X), and the following estimated regression equation was obtained.
Y = 120 - 10 X
8.Based on the above estimated regression equation, if price is increased by 2 units, then demand is expected to
8.Regression analysis was applied between sales (Y in $1,000) and advertising (X in $100), and the following estimated regression equation was obtained.
Y = 80 + 6.2 X
10.Based on the above estimated regression line, if advertising is $10,000, then the point estimate for sales (in dollars) is
9.In regression analysis if the dependent variable is measured in dollars, the independent variable
10.If the coefficient of correlation is 0.90, then the coefficient of determination
