The R2 for the data on sales and promotional spending for Smith and Klein Manufacturing is 0.83, which is a relatively high value. Does this mean that the least squares regression line is a good model in this case?
Answer to relevant QuestionsInterpret the coefficient of determination for the data set on semester average marks. Given this number, can you conclude that the way to increase student marks is to keep students from working while they are studying? Smith and Klein Manufacturing have data on annual sales and the annual amount spent on promotions. Create an appropriate scatter diagram for these data. What is the least-squares regression line? Interpret it. Check the requirements for regression for the data set of the TSX and the DJI described in Exercise 8.Is this data set a random sample? Interpret the coefficient of determination for the data on actual and recorded inventory values for Aries Car Parts (using the amended data set from Exercise 16). Does this give you confidence in the recorded inventory ...Why should you think carefully about any obvious outlier in the sample data set for a regression relationship, rather than simply removing it?
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