Multiple choice The regression of price on talk timetalk tim

Multiple choice.

The regression of price on talk timetalk time of cell phonecell phones had Upper R squared equals 44.3 %R2=44.3%.Answer the questions below.

The regression of price on talk time of cell phones had R2 = 44.3%. Answer the questions below. What is the correlation between talk time and price? r = (Round to three decimal places as needed.) What would you predict about the price of a cell phone one standard deviation above average in talk time? The price of a cell phone that is one standard deviation above the mean talk time would be predicted to cost r times the mean price. The price of a cell phone that is one standard deviation above the mean talk time would be predicted to be r standard deviations below the mean price. The price of a cell phone that is one standard deviation above the mean talk time would be predicted to be r standard deviations above the mean price. There is not enough information to make a prediction. What would you predict about the price of a cell phone four standard deviations below average in talk time? The price of a cell phone that is four standard deviations below the mean talk time

Solution

A)

As

r^2 = 0.443, then

r = 0.665582452 [ANSWER]

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b)

By definition, it is OPTION C:

c: The price of a cellphone that is one standard deviation above the mean talk time would be predicted to be r standard deviations above the mean price.

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c)

Consequently,

OPTION A: The price of a cellphone that is four standard deviations below the mean talk time would be predicted to be 4r standard deviation below the mean price.