Interpretation of R-square value
Mr. Allen Profit is studying companies going public for the first time. He is studying companies going for the first time. He is particularly interested in the relationship between Sales, (X), and the /units sold, (Y). A sample of 10 companies that recently revealed the following information:
|
Sales(X)
|
14
|
35
|
22
|
29
|
6
|
15
|
17
|
20
|
12
|
29
|
|
Units sold(Y)
|
28
|
66
|
38
|
70
|
22
|
27
|
28
|
47
|
14
|
68
|
|
XY
|
|
|
Y^
|
|
|
e
|
|
a) Interpret the meaning of b1.
b) Name 4 parts of the regression equation.
c) What is another name of r2 since r2 is the symbol?
d) Complete table and sum each column