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Linear Regression Exercise The manager of a seafood restaurant was asked to establish a pricing policy on lobster dinners. Experimenting with prices produced the following

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Linear Regression Exercise The manager of a seafood restaurant was asked to establish a pricing policy on lobster dinners. Experimenting with prices produced the following data: Average Number Average Number Sold per Day. y Price, X Sold per Day. y Price, X 200 $6.00 155 $8.25 190 6.50 156 8.50 188 6.75 148 8.75 180 7.00 140 9.00 170 7.25 133 9.25 162 7.50 160 8.00 . Determine the correlation coefficient and interpret it. Answer. Determine the slope and the y-intercept and interpret your regression equation. Answer. Determine the SST, SSE, and SSR. Answer. Determine the coefficient of determination and provide an interpretation. Answer. . Plot the data and a regression line on the same graph to verify your assumptions and the result of calculations

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