Question: For the top law firms in the world in terms
For the top law firms in the world in terms of profit per equity partner, data file XR15012 lists the number of equity partners and the gross revenue ($ millions) for the most recent fiscal year. Given these data, determine the least-squares equation for predicting gross revenue on the basis of the number of equity partners, then interpret its slope. What would be the estimated gross revenue for a firm with 200 equity partners?
Relevant QuestionsThe Florida ecosystem is heavily reliant on wet and dry seasons, and is particularly dependent on the winter and spring rainfall that helps reduce damage due to wildfires. Data file XR15013 lists the number of acres burned ...What happens to the width of a prediction interval for y as the x value on which the interval estimate is based gets farther away from the mean of x? Why? For the data in Exercise 15.10, find the standard error of estimate, then construct the 95% prediction interval for boat trailer sales during a year in which the number of boats sold is 500,000. In exercise In regression and correlation analysis, what are the two components of the total amount of variation in the y values? Define the coefficient of determination in terms of these components. For n = 37 data points, r2 = 0.29. At the 0.02 level of significance, can we conclude that the true coefficient of correlation could be zero?
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