What is the relationship between revenue and profit? A random sample of the top 1,000 Canadian companies was selected, and revenue and profit for 2008 were recorded.6 Create a scatter diagram, and comment on the relationship. What is the coefficient of determination for this data set? Does the high value mean that a linear relationship is a good model in this case?
Answer to relevant QuestionsWhy are regression prediction intervals wider than confidence intervals? If appropriate, create a 98% interval estimate to predict the test score of a student with an overall average mark of 75, based on the data set describe in Exercise 20. Do you think the company should continue to administer ...For the Salaries data set, create scatter diagrams showing the relationship between each possible explanatory variable and salaries. Are there any obvious problems? Are there some variables that seem particularly strong as ...Would it be appropriate to use the Woodbon model to make a prediction for mortgage rates of 6%, housing starts of 2,500, and advertising expenditure of $4,000? Explain why or why not. Compare all possible models for the Salaries data, and select the “best” regression model.
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