The following problem information is to be used for problems 5 through 11. Suppose that a company was trying to relate the number of units ordered to...

The following problem information is to be used for problems 5 through 11. 

Suppose that a company was trying to relate the number of units ordered to the offered price of the product. The computer printout provided the following equation:

         Number of Units = 1000 - 20 Price

Additionally, the printout gave the following information about the Price coefficient, the R-square value and the Standad Error of the Regression.

   PREDICTOR    COEF.       SE COEF.       T            P

         Price               - 20                   2              2.04           ,015

             s = 50                  R-Sq = 80

What percent of the variation in NUMBER OF UNITS can be associated with the PRICE being offered?

20

80