Question

2. Develop a Regression Equation for the information given that can be used to estimate the selling price (Y) based on the number of pages (X).

**Book****Page****Price**

Introduction to Statistics 500 84

Basic Algebra 700 75

Introduction to Psychology 800 99

Introduction to Sociology 600 72

Business Management 400 69

Introduction to Biology 500 81

Fundamentals of Finance 600 63

Principles of Marketing 800 93

Answer #1

Using Minitab statistical software

Regression Analysis: Price versus Book page

The regression equation is

**Price = 48.00 +
0.05143 Book page**

S = 10.4129 R-Sq = 37.7% R-Sq(adj) = 27.3%

Analysis of Variance

Source DF SS MS F P

Regression 1 393.43 393.429 3.63 0.105

Error 6 650.57 108.429

Total 7 1044.00

Fitted Line: Price versus Book page

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