Jordan is working on a business model for a sandwich shop. Based on past data, he developed the model nˆ=150−3p, where nˆ represents the predicted number of turkey sandwiches sold in one day for a price of p dollars per sandwich. Show
For each increase of $3 in the price of the sandwich, the number sold is predicted to decrease, on average, by 150. For each increase of $3 in the price of the sandwich, the number sold is predicted to increase, on average, by 150. For each increase of $1 in the price of the sandwich, the number sold is predicted to decrease, on average, by 3. For each increase of $1 in the price of the sandwich, the number sold is predicted to increase, on average, by 3. For each increase of $1 in the price of the sandwich, the number sold is predicted to decrease, on average, by 150. Recommended textbook solutions
 Introductory Business Statistics1st EditionAlexander Holmes, Barbara Illowsky, Susan Dean 2,174 solutions
Statistics for Business and Economics13th EditionDavid R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams 1,691 solutions
Century 21 Accounting: General Journal11th EditionClaudia Bienias Gilbertson, Debra Gentene, Mark W Lehman 1,009 solutions
Essentials of Investments9th EditionAlan J. Marcus, Alex Kane, Zvi Bodie 689 solutions Recommended textbook solutions
Statistical Techniques in Business and Economics15th EditionDouglas A. Lind, Samuel A. Wathen, William G. Marchal 1,236 solutions
Century 21 Accounting: General Journal11th EditionClaudia Bienias Gilbertson, Debra Gentene, Mark W Lehman 1,009 solutions
Introductory Business Statistics1st EditionAlexander Holmes, Barbara Illowsky, Susan Dean 2,174 solutions Principles of Economics7th EditionN. Gregory Mankiw 1,394 solutions Recommended textbook solutionsPrinciples of Economics8th EditionN. Gregory Mankiw 1,335 solutions Krugman's Economics for AP2nd EditionDavid Anderson, Margaret Ray 1,042 solutions Principles of Macroeconomics5th EditionN. Gregory Mankiw 446 solutions Explorations in Economics1st EditionAlan Krueger 1,281 solutions What does a correlation coefficient of 0.94 indicate about the relationship between two variables?The magnitude of the correlation coefficient indicates the strength of the association. For example, a correlation of r = 0.9 suggests a strong, positive association between two variables, whereas a correlation of r = -0.2 suggest a weak, negative association.
What do correlation coefficients tell us about the relationship between two variables quizlet?Correlations tell you if two variables are related to each other, and if so, in what way. The sign in a correlation tells you what direction the variables move. A positive correlation means the two variables move in the same direction. A negative correlation means they move in opposite directions.
What does a coefficient of correlation of .70 infer?The list below shows what different correlation coefficient values indicate: Exactly –1. A perfect negative (downward sloping) linear relationship. –0.70. A strong negative (downward sloping) linear relationship.
What does a correlation coefficient of 0.70 infer quizlet?What does a correlation coefficient of 0.70 infer? There is almost no correlation because 0.70 is close to 1.0. 70% of the variation in one variable is explained by the other variable.
|
What does a correlation coefficient of 0.94 indicate about the relationship between two variables quizlet?
zusammenhängende Posts
Urheberrechte © © 2024 toptenid.com Inc.
