One purpose of regression is to predict the value of one variable based on the other variable
Indicate whether the statement is true or false
TRUE
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Route Two Tire Company makes a special kind of racing tire. Variable costs are $220 per unit, and fixed costs are $31,000 per month. Route Two sells 500 units per month at a sales price of $300. The company believes that it can increase the price if the tire quality is upgraded. If so, the variable cost will increase to $230 per unit, and the fixed costs will rise by 25%. The CEO wishes to increase the company's operating income by 15%. Which sales price level would give the desired results? (Round your answer to the nearest cent.)
A) $990.00 per unit B) $282.00 per unit C) $318.00 per unit D) $328.20 per unit
Prospective entrepreneurs can access data from ________ to obtain information on subjects such as population, business, and housing.
A. Census Bureau B. International Franchise Association C. MIT Enterprise Forum D. Federal Trade Commission
The voice system at an organization is easy to understand and uses simple procedures to resolve conflicts. Even though it takes a lot of time for employees to get their issues addressed, most employees believe that the system gives the right solutions to fix their issues. Which of the following statements is true about the voice system?
A. The voice system is responsive. B. The voice system lacks correctness. C. The voice system is elegant. D. The voice system is punitive.
The owner of a retail store randomly selected the following weekly data on profits and advertising cost. Week Advertising Cost ($) Profit ($) 1 0 200 2 50 270 3 250 420 4 150 300 5 125 325 ? a.Write down the appropriate linear relationship between advertising cost and profits. Which variable is the dependent variable? Which variable is the independent variable?b.Develop the least squares estimated regression equation.c.Predict the profits for a week when $200 is spent on advertising.d.Using a t test at the 5% level of significance, test to determine if the relationship between advertising costs and profits is statistically significant.e.Calculate the coefficient of determination.
What will be an ideal response?