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Suppose that a company was trying to relate the number of units ordered to the offered price of the product. The computer printout provided the following equation:

Number of Units = 1000 - 20 Price

Additionally, the printout gave the following information about the Price coefficient, the R-square value and the Standad Error of the Regression.
PREDICTOR COEF. SE COEF. T P
Price - 20 2 2.04 ,015
s = 50 R-Sq = 80

What percent of the variation in NUMBER OF UNITS can be associated with the PRICE being offered?
A. 20
b. 80

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M997540

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