Consider the following to answer the question(s) below:
A small independent organic food store offers a variety of specialty coffees. To determine whether price has an impact on sales, the managers kept track of how many kilograms of each variety of coffee were sold last month. The data, scatterplot and summary statistics are shown below.

-What percent of the variability in the number of kilograms of coffee sold per month can be explained by price?
A) 95.47%
B) 100%
C) 85.8%
D) 55.6%
E) 4.68%

Question

Consider the following to answer the question(s) below:
A small independent organic food store offers a variety of specialty coffees. To determine whether price has an impact on sales, the managers kept track of how many kilograms of each variety of coffee were sold last month. The data, scatterplot and summary statistics are shown below.
  
-What percent of the variability in the number of kilograms of coffee sold per month can be explained by price?
A) 95.47% 
B) 100% 
C) 85.8% 
D) 55.6% 
E) 4.68%

Quizplus · Accepted Answer

The R-squared value, which measures the percentage of variability in the dependent variable (kilograms of coffee sold) that can be explained by the independent variable (price), is 85.8%. Therefore, choice C is the best answer.

Consider the Following to Answer the Question(s) Below