Quiz 3 - The fitted regression is Fitted Sales = 842 37.5...

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The fitted regression is Fitted Sales = 842 − 37.5 Price . (a- 1) If Price = 1, then Fitted Sales = 804.5 . (a- 2) Choose the correct statement. An increase in price decreases sales. (b ) If Price = 20, then Fitted Sales = 92 . (c) Choose the right option. The intercept is not meaningful as a zero price is unrealistic. The regression equation Fitted NetIncome = 2,277 + .0307 Revenue was estimated from a sample of 100 leading world companies. (Variables are in millions of dollars). 2. award: 1 out of 1 point (b- 1) Calculate the residual for the x, y pair ( $61,768, $893 ). (A negative value should be indicated by a minus sign. Also, do not round! Carry your answer to a full four decimal places.) Residual -3,280.2776 (b- 1) Calculate the residual for the x, y pair ( $61,768, $893 ). (A negative value should be indicated by a minus sign. Also, do not round! Carry your answer to a full four decimal places.) Residual
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Explanation: = $2,277 + 0.0307($61,768) = $4,173.2776 , = 893 – 4,173.2776 = – 3,280.2776.
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This note was uploaded on 11/30/2011 for the course ECON 104 taught by Professor Dolenc during the Fall '08 term at UMass (Amherst).

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Quiz 3 - The fitted regression is Fitted Sales = 842 37.5...

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