Here are the residuals for a regression of Sales on Number of Sales People Working for the

Question:

Here are the residuals for a regression of Sales on Number of Sales People Working for the bookstore of Exercise 1:

a) What are the units of the residuals?
b) Which residual contributes the most to the sum that was minimized according to the Least Squares Criterion to find this regression?
c) Which residual contributes least to that sum?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 63% (19 reviews)

a The units of the residuals are the same as the units of the response variable Sales ...View the full answer

Answered By

Ali Khawaja

my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce

4.00+ 1+ Reviews 10+ Question Solved

Related Book For book-img-for-question

Business Statistics

ISBN: 9780321925831

3rd Edition

Authors: Norean Sharpe, Richard Veaux, Paul Velleman

See More Books

Question Posted: May 14, 2015 04:07 AM

See More Questions

Here are the residuals for a regression of Sales on Number of Sales People Working for the

Question:

Sales People Working Residual 0.07 0.16 10 12 15 16 20 -2.32 0.77 2.77 0.94 0.20 0.72 0.37

Step by Step Answer:

a The units of the residuals are the same as the units of the response variable Sales ...View the full answer

Business Statistics

Students also viewed these Statistics questions