(Solved): Brand Price per Gallon ($) Demand (Gallons) 1 59.95 276 2 38.99 611 3 26.99 779 4 40.65 521 5 41.89 ...

Brand Price per Gallon ($) Demand (Gallons) 1 59.95 276 2 38.99 611 3 26.99 779 4 40.65 521 5 41.89 466 6 54.99 154 7 35.62 539 8 42.00 387 9 24.23 630 10 55.00 169 11 36.99 578 12 30.99 678 13 29.00 612 14 69.46 105 15 51.34 290 16 49.68 143 17 54.99 300 18 95.00 49 19 85.00 40 20 38.95 567 21 65.99 80 22 70.00 94 23 72.96 77 24 63.00 198 25 47.00 382 26 45.95 376 27 41.89 490 28 30.38 634 Correlation and Simple Linear Regression Use a cell reference or a single formula where appropriate in order to receive full credit. Do not copy and paste values or type values, as you will not receive full credit for your answers. 1-2. On the Data sheet, go to the Data Tab and click on Data Analysis. Double click on "Regression." For Input Y Range, select the range C1:C29 and for Input X Range, select the range B1:B29. Check the Labels box and select Output Range under Output Option and type E1. 3. In cell C4, find the covariance between the price and demand for the sample on the Data sheet. 4. In cell C5, find the correlation between the price and demand for the sample on the Data sheet. 5. By assessing the values in cells C4 and C5, what can you say about the relationship between the Price of the paint and Demand? Choose your answer from the dropdown menu in cell C6. 6. Explain the answer you chose in cell C6. Choose your answer from the dropdown menu in cell C7.7. In cell C8, find the Y-Intercept (B0) of the Regression Equation from the Data Analysis output table on the Data sheet. 8. In cell C9, find the Price (X variable) coefficient (B1) from the Data Analysis output table on the Data sheet. 9. In cell C10, find the Coefficient of Determination (R2) from the Data Analysis output table on the Data sheet. 10. In cell C11, find the Regression Sum of Squares (SSR) from the Data Analysis output table on the Data sheet. 11. In cell C12, find the Error Sum of Squares (SSE) from the Data Analysis output table on the Data sheet. 12. In cell C13, find the Total Sum of Squares (SST) from the Data Analysis output table on the Data sheet. 13. In cell C14, find the value of Coefficient of Determination (R2) using SSR and SST. 14. Explain what the value of R2 means. Choose your answer from the dropdown menu in cell C15. 15. In cell C16, find the lowest price for which we can predict demand. 16. In cell C17, find the highest price for which we can predict demand. 17. In cell C18, predict the demand for a paint that is priced at $50 per gallon. 18. Explain the relationship between the demand and price. Choose your answer from the dropdown menu in cell C19. 19. Is the correlation coefficient related to the Coefficient of Determination? Choose your answer from the dropdown menu in cell C20. 20. Test the hypothesis that there was no linear relationship between the paint price and demand. In cell C21, find the observed level of significance (p-value) from the Data Analysis output tab get me excel formulas answers