A manager uses regression to express sales as a function of advertising expenditures (X1), and pe...
A manager uses regression to express sales as a function of advertising expenditures (X1), and per capita income (X2) in your sales area. The following multiple linear regression equation is developed:
Y = 10 + .51X1 + .45X2
The coefficient of determination is .96
This coefficient of determination explains that:
A) 96% of sales variations are explained by the equation
B) The dependent variable is not related to advertising expenditures and per capita income
C) 96% of sales variations are due to an error term
D) Only 4% of the sales variations are explained by advertising expenditures and per capita income
Homework Answers
| 96% of sales variations are explained by the equation |
| The coefficient of determination determines the variance in future sales |
| Option A is correct |
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