Shown below is a portion of a computer output for a regression analysis relating Y (demand) and X (unit price).
ANOVA
df SS
Regression 1 5048.818
Residual 46 3132.661
Total 47 8181.479
Coefficients Standard Error
Intercept 80.390 3.102
X -2.137 0.248
a. Perform a t test and determine whether or not demand and unit price are related. Let ? = 0.05.
b. Perform an F test and determine whether or not demand and unit price are related. Let ? = 0.05.
c. Compute the coefficient of determination and fully interpret its meaning. Be very specific.
d. Compute the coefficient of correlation and explain the relationship between demand and unit price.