1. In a scatterplot, the response is shown on the horizontal axis with the explanatory variable on the vertical axis....
2. Regression analysis requires several values of the response for each value of the predictor so that we can calculate averages for each x.
3. If all of the data lie along a single line with nonzero slope, then the r2 of the regression is 1. (Assume the values of the explanatory variable are not identical.)
4. If the correlation between the explanatory variable and the response is zero, then the slope will also be zero.
5. The use of a linear equation to describe the association between price and sales implies that we expect equal differences in sales when comparing periods with prices $10 and $11 and periods with prices $20 and $21.
6. The linear equation (estimated from a sequence of daily observations) Estimated Shipments = b0 + 0.9 Orders Processed
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Question Posted: July 14, 2015 09:43:13