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Based on exhibit 4, which of the following is the best describes the goodness of fit of the regression line fitted to the relationship between
Based on exhibit 4, which of the following is the best describes the goodness of fit of the regression line fitted to the relationship between prices and marketing? 53.47% of the variation in grower return can be explained by the variation in marketing budget 73.12% of the variation in grower prices can be explained by the variation in marketing budget 73.12% of the variation in marketing budget can be explained by the variation in grower prices 53.47% of the variation in marketing budget can be explained by the variation in grower prices 17 18 Exhibit 4: Grower Return as a function of Marketing Budget 19 $12.00 20 51100 21 $10.00 22 23 Grower Return (5/box) $9.00 y=-0.132x12.867 R: 0.5347 24 58.00 25 $7.00 26 56.00 27 510 515 520 $30 535 $40 $25 Marketing Budget (mil) 28
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