Predict annual sales for a company

Reference no: EM131008935

1. What slope, part 2? If you create a regression model for estimating a student's business school GPA (on a scale of 1-5) based on his math SAT (on a scale of 200-800), is the slope most likely to be 0.01, 1, or 10? Explain.

2. Misinterpretations. An advertising agent who created a regression model using amount spent on Advertising to predict annual Sales for a company made these two state- ments. Assuming the calculations were done correctly, explain what is wrong with each interpretation.

a) My R2 of 93% shows that this linear model is appropriate.

b) If this company spends $1.5 million on advertising, then annual sales will be $10 million.

Reference no: EM131008935

Questions Cloud

Determining the more misinterpretations : An economist investigated the association between a country's Literacy Rate and Gross Domestic Product (GDP) and used the association to draw the following conclusions. Explain why each statement is incorrect. (Assume that all the calculations wer..

Calculate the electric field intensity everywhere in space : Electric field due to planar charge density. An infinite plane, charged with a uni form surface charge density ρo is immersed in a dielectric of permittivity e. Calculate the electric field intensity everywhere in space.

Convert the displayed flowchart into pseudocode : Convert the displayed flowchart into pseudocode by filling in the blanks

Calculate the charge density everywhere in space : Charge density required to produce a given field. A charge density is distributed throughout the free space. Assume the charge density is uniform in the y and z directions. The electric field intensity everywhere is E =il0-141:rl. Calculate the..

Predict annual sales for a company : Misinterpretations. An advertising agent who created a regression model using amount spent on Advertising to predict annual Sales for a company made these two state- ments. Assuming the calculations were done correctly, explain what is wrong with e..

Compute the equation of the plane tangent to the surface xyz : Find the equation of the plane tangent to the surface f(x,y,z) = √(x+yz) at the point (1,3,1). Find the equation of the plane tangent to the surface xyz = In (2y + z) at the point (1,2,0).

What is the residual using linear model : If during this month, the recorded fund Flow was $5 billion, what is the residual using this linear model? Did the model provide an underestimate or overestimate for this month?

How does the charge density vary in they and z directions : Charge densityrequired toproduce afield. Alayer of charge fills the space between x = -a andx = +a.The layer has a charge density p(x). The electric field intensity everywhere inside the charge distribution is given by E(x) = x&3, where K is a giv..

Relationship between private-public four-year colleges : Tuition 2008, part 2. Exercise 51 examined the relation- ship between the tuition charged by states for four-year colleges and universities compared to the tuition for two- year colleges. Now, examine the relationship between private and public fo..

User Account

All Pages