Regression was run to find the relationship between Age (X) and NetSales (Y), an
ID: 3259523 • Letter: R
Question
Regression was run to find the relationship between Age (X) and NetSales (Y), and the following output was generated.
Answer the following questions. Round to the fourth decimal place for numeric answers.
A: Write the regression equation: NetSales = + * Age
B: With 95% confidence, Age is a significant independent variable. TrueFalse
C: What the p-value of the slope?
D: When a customer's age increases by 1 year, the net sale of the customer can decrease by $ or increase by $, which indicates the inconclusiveness of the effect of Age on NetSales.
E: The performance of the regression equation is about %.
SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.010635892 0.000113122 -0.010089805 55.94505781 100 ANOVA df F Significance F 135829 34.70136 0.0110870.916356226 MS Regression Residual Total 1 34.70 98 306725.2503 3129.849 99 306759.9517 Coefficients Standard Error tstat P-value Lower 95% Upper 95% 79.65920176 20.33624574 3.917105 0.000166 39.30258395 120.0158196 0.047787877 0.453843615 -0.1053 0.916356 0.948425761 0.852850007 InterceptExplanation / Answer
A: Write the regression equation:
NetSales = 79.65920176 + (-0.047787877)* Age
B: With 95% confidence, Age is a significant independent variable. TrueFalse
False
Since p-value for Age = 0.916356 is greater than 0.05, Age is not a significant independent variable.
C: What the p-value of the slope?
P-value = 0.916356
D: When a customer's age increases by 1 year, the net sale of the customer can decrease by $ or increase by $, which indicates the inconclusiveness of the effect of Age on NetSales.
When a customer's age increases by 1 year, the net sale of the customer can decrease by $0.047787877, which indicates the inconclusiveness of the effect of Age on NetSales.
E: The performance of the regression equation is about %.
R-square=0.000113=0.0113%