Linear Regression The owner of a pizzeria wishes to build a model relating reven

Question

Linear Regression The owner of a pizzeria wishes to build a model relating revenues to advertising expenditures into three categories: television, newspaper and direct mailing advertising Summary Output Regression Stotistics 0.967 0.94 0.887 0.64 Multiole R R Square Aduisted R Square tandard Eo Observations ANOVA MS Regression Residual Tetal 3.85 7.95 19.23 0.0077 1650,413 f-test Lower 95% |Upper 95% ntercept 73.93 4.53 0.32 0.356 0.277 16.34 7,49 4.09 8 21E-05 0.0017 0.015 2.80E-03 61.37 Newspaper 145 0.467 2.44 1.05 2.58 Which statement below best describes the goodness-of-8t Oa The dota is a good t because the F-value is 0.0077 Ob. The data is not a good ft because r 06 Oe.Approur atalyB8% ofthe changeinrevena" can be explared by the three inaperdrt variables in the model. Ca-The data is not good fit becauses.64 mering 64%ofthochange in revenues i.plained.

Explanation / Answer

Adjusted R square = 0.887

Answer is " C "

C. Approximately 88% of the change in revenue can be explained by the three independent variables in the model.

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