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6.) A construction company in southern CA is trying to estimate the relationship between the revenue generated from renovation work it performs in an area

6.) A construction company in southern CA is trying to estimate the relationship between the revenue generated from renovation work it performs in an area (in hundred thousand dollars) and the area payroll (in millions of dollars). Accordingly, it uses simple linear regression to forecast the volume of renovation work & obtains the following

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Principles of Economics

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