If you create a regression model for predicting the sales ($ million) from money spent on advertising the prior month ($ thousand), is the slope most likely to be closer to 0.03, 300, or 3000? Explain.
Answer to relevant QuestionsIf you create a regression model for estimating a student’s business school GPA (on a scale of 1–5) based on his math SAT (on a scale of 200–800), is the slope most likely to be closer to 0.01, 1, or 10? Explain. A popular magazine annually publishes rankings of both U.S. business programs and international business programs. The latest issue claims to have developed a linear model predicting the school’s ranking (with “1” ...A larger firm is considering acquiring the bookstore of Exercise 1. An analyst for the firm, noting the relationship seen in Exercise 1, suggests that when they acquire the store they should hire more people because that ...Facebook reports that 70% of their users are from outside the United States and that 50% of their users log on to Facebook every day. Suppose that 20% of their users are United States users who log on every day. a) What ...An investment newsletter makes general predictions about the economy to help their clients make sound investment decisions. a) Recently they said that because the stock market had been up for the past three months in a row ...
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