Homework Answers
Part 1
Answer is option D
D. Independent variable explains 77% of the variability in cost.
It shows that 77% variability in dependent variable is due to the independent variable.
Part 2
Answer is option C
C. coefficient of determination
Coefficient of determination is derived in the percentage and it is a good fit measure. It is also termed as “R Square”.
Part 3
Answer is option A
A. the better job the independent variable does of explaining the dependent variable
Coefficient of determination is derived in the percentage and it is a good fit measure. As the percentage increases, there is improvement in the fitness.
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If the cost equation yields a coefficient of determination of 77%, it means that the: a....
If the cost equation yields a coefficient of determination of 80%, it means that the: a....
If the cost equation yields a coefficient of determination of 80%, it means that the: a. independent variable explains 20% of the variability in cost. b, dependent variable explains 20% of the variability in cost. c, dependent variable explains 80% of the variability in cost. d, independent variable explains 80% of the variability in cost The following data relates to Mandarin Company. Units in beginning inventory Units produced Units sold ($300 per unit) Variable costs per unit: Direct materials Direct...
2. Multiple coefficient of determination Aa Aa Macroeconomics is the study of the economy as a...
2. Multiple coefficient of determination Aa Aa Macroeconomics is the study of the economy as a whole. A macroeconomic variable is one that measures a characteristic of the whole economy or one of its large-scale sectors. In forecasting the sales of a product, market researchers frequently use macroeconomic variables in addition to marketing mix variables (marketing mix variables include product, price, place [or distribution], and promotion) A market researcher is analyzing an existing multiple regression model that predicts sales for...
Which of the following statements is false about the coefficient of determination r2
Which of the following statements are not correct? The
coefficient of determination, denoted by r^2 is interpreted as the
proportion of observed y variation that cannot be explained by the
simple linear regression model. The higher the value of the
coefficient of determination, the more successful is the simple
linear regression model in explaining y variation. If the
coefficient of determination is small, an analyst will usually want
to search for an alternative model (either a nonlinear model or a...
2. Multiple coefficient of determination Aa Aa E Macroeconomics is the study of the economy as a whole. A macroeconomic variable is one that measures a characteristic of the whole economy or one of i...
2. Multiple coefficient of determination Aa Aa E Macroeconomics is the study of the economy as a whole. A macroeconomic variable is one that measures a characteristic of the whole economy or one of its large-scale sectors. In forecasting the sales of a product, market researchers frequently use macroeconomic variables in addition to marketing mix variables (marketing mix variables include product, price, place [or distribution], and promotion) A market researcher is analyzing an existing multiple regression model that predicts sales...
22. The coefficient of determination explains the relationship between two variables the proportion of variance in...
22. The coefficient of determination explains the relationship between two variables the proportion of variance in one variable accounted for by another variable and vice versa the cause–effect relationship between two variables all of the above 23. The ____________ assumption is met if, in a scatterplot, the distance from the points to the line is relatively equal all along the line. a. homoscedasticity b. linearity c. curvilinearity d. heterolinearity 24. The strength of a relationship between two variables in correlation...
If the coefficient of correlation is 0.8, the percentage of variation in the dependent variable explained by the estimated regression equation is
If the coefficient of correlation is 0.8, the percentage of variation in the dependent variable explained by the estimated regression equation is a. 0.80% b. 80% c. 0.64% d. 64%
Find the coeficient of determination The coefficient is__ 3 9) The coefficient of determination (2) tells...
Find the coeficient of determination The coefficient is__ 3 9) The coefficient of determination (2) tells you A) whether has any significance B) that the coefficient of correlation () is larger than 1 C) that you should not partition the total variation D) the proportion of total variation that is explained. SCENARIO 12-2 A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their prodita this the company randomly chooses 6 small...
If the coefficient of correlation is 0.65, the percentage of variation in the dependent variable explained...
If the coefficient of correlation is 0.65, the percentage of variation in the dependent variable explained by the estimated regression equation is a. 0.65% b. 80% c. 0.42% d. 42.2%
If SSR = 4 and SSE = 16, determine SST, then compute the coefficient of determination,...
If SSR = 4 and SSE = 16, determine SST, then compute the coefficient of determination, 7, and interpret its meaning. SSTEN 2 = (Type an integer or a decimal. Do not round.) Interpret the meaning of 7. Choose the correct answer below. O A. It means that 1 - r of the variation in the dependent variable cannot be explained by the variation in the independent variable. O B. It means that r of the variation in the independent...
The coefficient of determination: Choose one • 10 points A. Represents the percentage of the data...
The coefficient of determination: Choose one • 10 points A. Represents the percentage of the data that can be explained by the correlation B. Is equal to the ratio of the explained variation to the total variation C. Is calculated by squaring the correlation coefficient. D. All of the above
If the cost equation yields a coefficient of determination of 80%, it means that the: a. independent variable explains 20% of the variability in cost. b, dependent variable explains 20% of the variability in cost. c, dependent variable explains 80% of the variability in cost. d, independent variable explains 80% of the variability in cost The following data relates to Mandarin Company. Units in beginning inventory Units produced Units sold ($300 per unit) Variable costs per unit: Direct materials Direct...
2. Multiple coefficient of determination Aa Aa Macroeconomics is the study of the economy as a whole. A macroeconomic variable is one that measures a characteristic of the whole economy or one of its large-scale sectors. In forecasting the sales of a product, market researchers frequently use macroeconomic variables in addition to marketing mix variables (marketing mix variables include product, price, place [or distribution], and promotion) A market researcher is analyzing an existing multiple regression model that predicts sales for...
Which of the following statements are not correct? The
coefficient of determination, denoted by r^2 is interpreted as the
proportion of observed y variation that cannot be explained by the
simple linear regression model. The higher the value of the
coefficient of determination, the more successful is the simple
linear regression model in explaining y variation. If the
coefficient of determination is small, an analyst will usually want
to search for an alternative model (either a nonlinear model or a...
2. Multiple coefficient of determination Aa Aa E Macroeconomics is the study of the economy as a whole. A macroeconomic variable is one that measures a characteristic of the whole economy or one of its large-scale sectors. In forecasting the sales of a product, market researchers frequently use macroeconomic variables in addition to marketing mix variables (marketing mix variables include product, price, place [or distribution], and promotion) A market researcher is analyzing an existing multiple regression model that predicts sales...
Find the coeficient of determination The coefficient is__ 3 9) The coefficient of determination (2) tells you A) whether has any significance B) that the coefficient of correlation () is larger than 1 C) that you should not partition the total variation D) the proportion of total variation that is explained. SCENARIO 12-2 A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their prodita this the company randomly chooses 6 small...
If SSR = 4 and SSE = 16, determine SST, then compute the coefficient of determination, 7, and interpret its meaning. SSTEN 2 = (Type an integer or a decimal. Do not round.) Interpret the meaning of 7. Choose the correct answer below. O A. It means that 1 - r of the variation in the dependent variable cannot be explained by the variation in the independent variable. O B. It means that r of the variation in the independent...
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