RCO100 Lecture 7: STAT 141 Feb 13 Wednesday
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4 Feb 2016
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1. Write the subsequent demand equation, with Qd as the dependent variable; price, advertising, product development, and rel price as the independent variables.
2. How strong is the relationship between quantity demanded and the set of independent variables? List and explain 2 measures of this strength.
3. Which variable is most important in determining quantity demanded? Why?
Regression Statistics | Ā | Ā | Ā | Ā | Ā | Ā | Ā | |
Multiple R | 0.655864641 | Ā | Ā | Ā | Ā | Ā | Ā | Ā |
R Square | 0.430158427 | Ā | Ā | Ā | Ā | Ā | Ā | Ā |
Adjusted R Square | 0.104534671 | Ā | Ā | Ā | Ā | Ā | Ā | Ā |
Standard Error | 102678.3385 | Ā | Ā | Ā | Ā | Ā | Ā | Ā |
Observations | 12 | Ā | Ā | Ā | Ā | Ā | Ā | Ā |
Ā | Ā | Ā | Ā | Ā | Ā | Ā | Ā | Ā |
ANOVA | Ā | Ā | Ā | Ā | Ā | Ā | Ā | Ā |
Ā | df | SS | MS | F | Significance F | Ā | Ā | Ā |
Regression | 4 | 55709596185 | 13927399046 | 1.321029008 | 0.349980066 | Ā | Ā | Ā |
Residual | 7 | 73799888386 | 10542841198 | Ā | Ā | Ā | Ā | Ā |
Total | 11 | 1.29509E+11 | Ā | Ā | Ā | Ā | Ā | Ā |
Ā | Ā | Ā | Ā | Ā | Ā | Ā | Ā | Ā |
Ā | Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | Lower 95.0% | Upper 95.0% |
Intercept | 1422378.519 | 1185014.572 | 1.200304665 | 0.269060955 | -1379735.677 | 4224492.715 | -1379735.677 | 4224492.715 |
X Variable 1 | -247037.6649 | 160481.181 | -1.539355975 | 0.167610603 | -626515.3574 | 132440.0276 | -626515.3574 | 132440.0276 |
X Variable 2 | 0.081609431 | 1.398101115 | 0.058371623 | 0.955083996 | -3.22437437 | 3.387593232 | -3.22437437 | 3.387593232 |
X Variable 3 | -1.015253706 | 3.150288749 | -0.322273222 | 0.756657161 | -8.46450288 | 6.433995469 | -8.46450288 | 6.433995469 |
X Variable 4 | 177211.9244 | 145755.2053 | 1.215818838 | 0.263460235 | -167444.3689 | 521868.2176 | -167444.3689 | 521868.2176 |