Lobster industry 2008 price diagnosed in chapter 18, Ask an Expert

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Lobster industry 2008, price diagnosed. In Chapter 18, Exercise 35 (Lobster industry 2008), we constructed the fol- lowing regression model to predict the Price of lobster har- vested in Maine's lobster fishing industry.

Dependent variable is: Price/lb

R-squared = 94.4% R-squared (adjusted) = 94.1% s = 0.2462 with 53 - 4 = 49 degrees of freedom

Variable Coeff SE(Coeff) t-ratio P-value

Intercept 0.845123 0.3557 2.38 0.0215

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