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3k The following estimated regression equation relating sales to inventory investment and advertising expenditures was given. )7: 23 + 14x1 + 8X2 The data used
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The following estimated regression equation relating sales to inventory investment and advertising expenditures was given. )7: 23 + 14x1 + 8X2 The data used to develop the model came from a survey of 10 stores; for those data, SST = 16,000 and SSR = 12,160. (a) For the estimated regression equation given, compute R2. 2 . (b) Compute Ra . (Round your answer to two deCImal places.) 2 _ R. :1 (c) Does the model appear to explain a large amount of variability in the data? Explain. (For purposes of this exercise, consider an amount large if it is at least 55%. Round your answer to the nearest integer.) The adjusted coefficient of determination shows that :l % of the variability has been explained by the two independent variables; thus, we conclude that the mode; 'explain a large amount of variabilityStep by Step Solution
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