Name: SUMMARY OUTPUT Mutiple R Square Adjusted R Square Standard Eor 0 502114 0.

Question

Name: SUMMARY OUTPUT Mutiple R Square Adjusted R Square Standard Eor 0 502114 0.500 93089.0209 00793344 3 8.17687E+12 6.29E+11 14 2004TE+13 upper 95% Lower 950% Upper 9&OSS; X Variable 1 206896 1071 47396 13437 4344154 0.000796 103502 984 308289 2303 1030294s 308289 2303 1.(2 Points) describe the two purposes of using a regression analysis inthe business decisions. 2. (2 points) what can you measure if you use a regression analysis? a. Pattern c. Seasonality d. Irregularity 3. (2 points) take a look at number 1. Interpret 0.5607 (Do not simply say it is a measure of how close the data are to a regression line, and focus on the number) 4. (2 points) take a look at number 2. What does 15 mean in the table?

Explanation / Answer

1) Using regression analysis in business decisions can serve two purposes:

a) It could tell us the direction of correlation/causation of the variable we're interested in with respect to variable taken.

For eg., effect on wages of education, experience.

b) Apart from direction, it could also tell us how strong the correlation is and we can tell from the coefficients the degree of strength of correlation between the variables which we're interested in.

2) We can measure pattern using regression analysis.

3) adjusted R-squared is 0.5607 represents how much variation in our dependent variable is explained by our independent variable

4) 15 is our number of observation of the dependent and independent variable

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