Regression was run to find the relationship between Age (X) and NetSales (Y), an
ID: 3356677 • 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.
Write the regression equation: NetSales = + * Age
With 95% confidence, Age is a significant independent variable. TrueFalse
What the p-value of the slope?
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.
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
The regression equation is
Net Sales (Y) = 79.6592 - 0.04778 * Age
To test whether age is a significant independent variable,
P-value = 0.916356 > 0.05,
So at 5% level of significance or with 95% confidence, we can conclude that age is not significant independent variable.
Ans -> With 95% confidence, Age is a significant independent variable. (False)
P-value of the slope = 0.916356
When a customer's age increases by 1 year, the net sale of the customer can decrease by $ 0.04778 unit.
The performance of the regression equation is about 0.0113 %