Explain why age in a business related field can be used to show linear regression and...
Homework Answers
During the course of operation, businesses accumulate all kinds of data such as numbers related to sales performance and profit, and information about clients. Companies often seek out employees with strong math skills because data analysis provides insight that improves business decisions. Linear regression is a common type of statistical method that has several applications in business.
One of the key variables in such models is age. It is because it affects a lot of dependent variables directly like experience in a sales team, efficiency of a sports player, education level, chances of diseases, the minimum age required to hold a position. There are ample factors where age affects business models and plays a crucial role in explaining the variation in the dependent variable
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Explain why age in a business related field can be used to show
linear regression and...
Explain how a business could use a scatter plot and linear regression to develop a model...
Explain how a business could use a scatter plot and linear regression to develop a model for the business and what the rate of change would mean.
Explain how a business could use a scatter plot and linear regression to develop a model for the business and what the rate of change would mean.
Explain the elements of a regression equation for a simple linear regression: Y=b+mx. Why are regression...
Explain the elements of a regression equation for a simple linear regression: Y=b+mx. Why are regression analysis useful? Give an example.
The following linear regression equation is for the age (year) and price ($) of used Ford...
The following linear regression equation is for the age (year) and price ($) of used Ford Escorts. P r i c e space equals space 8 comma 857 space minus 1 comma 114 A g e Predict the price of a 3 year old Ford Escort.
TRUE or FALSE Please explain why. Regression techniques can be used to obtain the sample correlation...
TRUE or FALSE Please explain why. Regression techniques can be used to obtain the sample correlation coefficient.
Using diagram(s) explain why a simple linear regression with a constant term will generally provide a...
Using diagram(s) explain why a simple linear regression with a constant term will generally provide a better fit than a simple linear regression which excludes a constant.
Classification and regression are commonly used processes in business analytics. Briefly explain the difference between...
Classification and regression are commonly used processes in business analytics. Briefly explain the difference between classification and prediction i. Give examples for classification methods you know. The following diagram shows a neural network with one hidden layer. b1 w1 h1 w5 w2 out w3 i2 w6 h2 W4 b2 Write down the algebraic equation for y, in terms of input values i,i and weights w Briefly explain how neural networks are used for classification iv Give at least three examples...
please answer all questions. 7. Think of two variables in your field for which linear regression...
please answer all questions.
7. Think of two variables in your field for which linear regression could be used to explain their possible association. a) Describe each component of the simple linear regression equation using your example. Y = Be + B1X + € X: Bo: B1: E: b) State the null and alternative hypotheses using words (not just symbols) of your example. He: Hi:
Explain why two perfectly multicollinear regressors cannot be included in a linear multiple regression. If those...
Explain why two perfectly multicollinear regressors cannot be included in a linear multiple regression. If those same two regressors were not perfectly collinear but highly collinear what difference, or differences, would that make?
In questions 4-7, use the following printout of the linear regression relating the age in days...
In questions 4-7, use the following printout of the linear regression relating the age in days of 30 randomly selected babies under the age of 2 and their weights in pounds: Does this analysis provide support for rejecting the null hypothesis that the slope of the regression line is 0 at the 5% level of significance? Why is this? No, the slope in this analysis is less than 0.95. Yes, the P-value for the slope in the analysis is shown...
What do we mean by “regression toward the mean?” A. The linear regression equation can be...
What do we mean by “regression toward the mean?” A. The linear regression equation can be used to identify the average value of each variable in the model. B. Linear regression normalizes the scale of the variables so they have a mean of zero and standard deviation of 1. C. The phenomenon that if a variable is extreme on its first measurement, it will tend to be closer to the average on a second measurement. D. Outliers in the model...
Explain how a business could use a scatter plot and linear regression to develop a model for the business and what the rate of change would mean.
Explain how a business could use a scatter plot and linear regression to develop a model for the business and what the rate of change would mean.
Classification and regression are commonly used processes in business analytics. Briefly explain the difference between classification and prediction i. Give examples for classification methods you know. The following diagram shows a neural network with one hidden layer. b1 w1 h1 w5 w2 out w3 i2 w6 h2 W4 b2 Write down the algebraic equation for y, in terms of input values i,i and weights w Briefly explain how neural networks are used for classification iv Give at least three examples...
please answer all questions.
7. Think of two variables in your field for which linear regression could be used to explain their possible association. a) Describe each component of the simple linear regression equation using your example. Y = Be + B1X + € X: Bo: B1: E: b) State the null and alternative hypotheses using words (not just symbols) of your example. He: Hi:
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