A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses 5 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below:

City price sales

River city 1.30 1000

Hudson 1.60 90

Elisworth 1.80 90

prescott 2.00 40

Rock Elm 2.40 38

1,what is the estimated mean change in the sales of the candy bar if price goes up by $1

2,what is the percentage of the total variation in candy bar sales?

3,if the price of the candy bar is set at $ 2 the estimated mean sales will be?

4,what is the coefficient of correlation for these data?

5,To test that the regression coofficient b1 is not equal to 0,what would be the critical value ?use @ 0.05

what is the standard error of the estimate SYX for the data