Question: Suppose that for a certain product type, you were able to build a predictive model that has a coefficient of determination of 63%. Also, average

Suppose that for a certain product type, you were able to build a predictive model that has a coefficient of determination of 63%. Also, average weekly sales of this product is $150K with a standard deviation of $40K. Suppose the model has a standard error of regression of $20K. How confident would you be in using this model? Explain the reasoning for your answer.

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