Question: A regression equation is set up, where the dependent variable is total costs and the independent variable is production. A correlation coefficient of 0.70 implies
A regression equation is set up, where the dependent variable is total costs and the independent variable is production. A correlation coefficient of 0.70 implies that: a. The coefficient of determination is negative. b. The level of production explains 49% of the variation in total costs c. There is a slightly inverse relationship between production and total costs. d. A correlation coefficient of 1.30 would produce a regression line with better fit to the data.
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