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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 716 |
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Therefore, in the Analysis of Variance (ANOVA) table shows that the model estimated by the regression procedure is significant at a ?-level of 0.05.
In our case, we reject the null hypothesis for the intercept and the price of beef. However, as for the price of chicken and income, we have to accept the null hypothesis for the p-value is higher than 0...
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However, as for the price of chicken and income, we have to accept the null hypothesis for the p-value is higher than 0.05 (price of chicken= 0.69 and income= 0.99)
5. The R2 value indicates that the dependent variables explain 97.7% of the variance in consumption of beef (QDBeef). The coefficient of determination or multiple determinations (in multiple regressions) R2 is the percentage of total variation in the response that is explained by dependant variables or factors in the model...
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