A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses 6 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below:CityPrice ($)SalesRiver City1.30100Hudson1.6090Ellsworth1.8090Prescott2.0040Rock Elm2.4038Stillwater2.9032a) What is the estimated slope for the candy bar price and sales data?b) What is the estimated mean change in the sales of the candy bar if price goes up by $1.00?c) What is the percentage of the total variation in candy bar sales explained by the regression model?d) What is the standard error of the estimate, SYX, for the data?e) What is the standard error of the regression slope estimate, ?f) To test that the regression coefficient, β1, is not equal to 0, what would be the critical values? Use α = 0.05.g) To test whether a change in price will have any impact on sales, what would be the critical values? Use α = 0.05.h) If the price of the candy bar is set at $2, the estimated mean sales will be



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