Question: What chart would be used to portray regression (x,y) data? Explain the purpose of using residual analysis?What are a couple of assumptions that are checked?

What chart would be used to portray regression (x,y) data?

Explain the purpose of using residual analysis?What are a couple of assumptions that are checked?

What is the relationship between the correlation coefficient, r, and the coefficient of determination, r2? What is the value of knowing the coefficient of determination?

How is the correlation coefficient used as part of managerial decision-making?

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