Question: We get R square value = 0.9343. This is the coefficient of determination. It measures proportion of variation in your dependent variable(y) explained by your

We get R square value = 0.9343. This is the coefficient of determination. It measures proportion of variation in your dependent variable(y) explained by your independent variable(x) for a linear regression. Here it says, 93.43% of the variance of the dependent variable (PROFIT) being studied is explained by the variance of the independent variable (SALES) which is a sign of a good fit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

We get R square value = 0.9740. This is the coefficient of determination. It measures proportion of variation in your dependent variable(y) explained by your independent variable(x) for a linear...

Discussion Board Week 2 1. "Estimating Demand and Its Elasticities" and Statistical Estimation of the Demand Curve During the Weekly Scenarios Herb Jones, a graduate student and part-time data...

Need help with screenshots 3 through 11. Note: all screenshots include ONLY one part! No multiple parts. Thus, it should be relatively easy on you. if you need any more information, do not hesitate...

An example of cluster sampling is? (note that Rutgers University has 5 campuses) A.Taking sample of 5 students from each campus of Rutgers University B.Taking a large sample of students from one of...

please answer these 3 multiple choice questions! there may be more than one answer in each question! thumbs up for answering all 3 questions :))) thanks heaps For all multiple-choice questions,...

Identify regression equation?Determine predicted average final exam score for a student who has a hw avg of 75?Identify the 95% prediction interval for the predicted value with a hw avg of 75?Find...

1 Understanding Regression Part 2 - Multiple Regression By Dr. Ardith Baker Oral Roberts University In the Part 1 paper, we explored simple linear regression with respect to understanding the basic...

ID Grip Strength (X) (X-Mean)2 98.5 3.4596 Histogram of Grip Strength in male EXSC 415 students $5.5 1.2996 10 95.0 2.6896 98.0 1.8496 126.5 891.6196 90.0 44.0896 114.0 301.3696 108.0 129.0496 124.0...

What is an incorrect statement about linear regression analysis? a. The regression line of best fit is achieved when the sum of squares for error is as small as possible. b. The coefficient of...

Need help with 16 statistics questions 1)The amounts of soft drinks in a machine is designed to dispense for each drink are normally distributed, with a mean of 12.3 fluid ounces and a standard...

Returning to Problem 2, suppose that good X is a consumption good with a negative consumption extemality (for example, automobiles, which create local air pollution), so the Foreign government...

What are the major categories of computers? What is a Smart phone?

2 . Consider the surface z = x 2 + y 2 1 . ( a ) Find the equation of the tangent plan to this surface at ( 1 0 0 ) . What is a unit normal vector to the surface here? [ Hint: This surface can be...

The mean velocity of water in a 5-in. pipe is 9 ft /s. Determine the flow rate in slugs per second, gallons per minute, and cubic feet per second if T = 60F.

Solve the given differential equation by undetermined coefficients. y''' y'' - 4y' + 4y = 5 - e x + e2 x

The label on a can of mixed nuts says that the mixture contains 40% peanuts. After opening a can of nuts and finding 22 peanuts in a can of 50 nuts, a consumer thinks the proportion of peanuts in the...

Mariana has been saving $200 per month for the past five years at an interest rate of 1.75% compounded monthly. If she continues to save, but she doubles her payment for the next five years, describe...

In 2022, Amber Wilson, owner of Canyon Canoe Company, started a new company that will be operated as a corporation, Outdoor Equipment Incorporated (OEI). This company sells outdoor clothing and...

Determine if the overhead allocated to the product relates to a single plantwide overhead rate method, multiple production department factory overhead rate method, or activity-based costing...

=+Highest Quintile Fourth Quintile Lowest Quintile Second Quintile Third Quintile MA 2.9 NJ 2.9 DC 4.1 DE 3.3 MD 2.9 RI 1.8 CT 2.6 AK 0.7 GDP % Change Top 40% Bottom 60% Total West (Far West,...

=+54. U.S. Gross Domestic Product. The U.S. Bureau of Economic Analysis provides information on the Gross Domestic Product (GDP) in the United States by state (www.bea.gov). The Bureau recently...

=+55. Economic growth. The U.S. Bureau of Economic Analysis also provides information on the growth of the U.S. economy (www.bea.gov). The Bureau recently released figures that they claimed showed a...