The difference between the observed value of the dependent variable and the value predicted using the estimated regression equation is known as the _____
a. constant term
b. error term
c. residual
d. model parameter
C
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The physical database is an abstract representation of the database
Indicate whether the statement is true or false
Which of the following statements about the relationship of advertising to sales and profits is most likely true?
A. There is no saturation level for advertising. B. Market share increases are more directly related to marketing budget increases than to price reductions. C. In most cases, sales will remain constant even if there are additional advertising investments. D. There will be no sales for an organization without online advertising. E. The durability of advertising is long-term rather than short-term.
If all the points in a scatter diagram lie on the least squares regression line, then the coefficient of correlation must be:
a. 1.0 b. -1.0 c. either 1.0 or -1.0 d. 0.0
Folsom Inc., which produces and sells a single product, has provided the following contribution format income statement for August: Sales (4,600 units)$105,800Variable costs 41,400Contribution margin 64,400Fixed costs 46,000Operating profit$18,400Required:Redo the company's contribution format income statement assuming that the company sells 4,500 units.
What will be an ideal response?