Consider the partial output below from a regression analysis relating the variables below:y = product supply (in thousands of units)x = unit price (in thousands of dollars)dfSSRegression1355.689Residual407,045.262CoefficientsStandard ErrorIntercept50.0962.458×0.05830.041(a)What has been the sample size for this problem?For every increase of $1,000 in unit price, the supply —Select— decreases increases by units (round your answer to the nearest whole number).(b)Compute the coefficient of determination. (Round your answer to four decimal places.)Interpret its meaning. Be very specific. (Give your answer as a percent. Round your answer to two decimal places.)The value of the coefficient of determination tells us that % of the variability in –?– x y has been explained by the least squares line.(c)Compute the coefficient of correlation. (Round your answer to four decimal places.)Explain the relationship between supply and unit price.The coefficient of correlation is —Select— positive negative , indicating that as unit price increases, supply —Select— increases decreases .(f)Predict the supply (in units) when the unit price is $50,000. unitsMathStatistics and Probability STAT 3500
solved : Consider the partial output below from a regression analysis
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