SST, SSE, SSR, coefficient of determination, goodness of fit, and correlation coefficient
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The following data represent the number of weed-eaters sold per month at a local garden shop and their prices
Price x $34 36 32 35 30 38 40
Units sold y 3 4 6 5 9 2 1
a. Compute SST, SSE and SSR.
b. Compute the coefficient of determination and comment on the goodness of fit.
c. What is the value of the sample correlation coefficient?
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Solution Summary
SST, SSE, SSR, coefficient of determination and goodness of fit are analyzed for weed eaters sold per month at a local garden shop and their prices.
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