Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Given below statistic summary what is the probability that the variation in the Total Sales is due to random variation, rather than what is predicted
Given below statistic summary what is the probability that the variation in the Total Sales is due to random variation, rather than what is predicted by the model (to 3 significant digits) SUMMARY OUTPUT Regression Statistics Multiple R 0.892993393 R Square 0.7974372 Adjusted R Square 0.790202814 Standard Error 232.3304389 Observations 30 ANOVA df SS MS F Significance F Regression 1 5949864.235 5949864.235 110.2287368 3.24985E-11 Residual 28 1511368.119 53977.43283 Total 29 7461232.354 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept -13.82351552 122.3631901 -0.112971193 0.910859479 -264.473148 236.826117 -264.473148 236.826117 Number of Customers 23.38351583 2.227216292 10.49898742 3.24985E-11 18.82127007 27.94576158 18.82127007 27.94576158
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started