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Suppose Dr. Bronlyn has a very large data set about a retail organization. This data set is very large: it has several thousand rows of
Suppose Dr. Bronlyn has a very large data set about a retail organization. This data set is very large: it has several thousand rows of data, and has approximately 30 variables. Two of those variables are Budget and Profit. Her goal is to create a model has an overall interpretation for how a change in Budget impacts the change in Profit without controlling for any other variables, and she would like to use the most accurate model that produces an overall interpretation for how changes in X correspond to changes in Y. What method should Dr. Bronlyn use? Question 14 options: Create a very large multiple linear regression model that includes every possible X-variable from the data set. Since polynomial models can sometimes be more accurate than linear models, create a polynomial model predicting the profit based on the budget. Create four plots with budget on the x-axis and profit on the y-axis, using every combination of the linear scale and log scale for each axis. Use the type of model (linear, exponential, logarithmic, or power) that corresponds to the plot with the most straight-line pattern in the dots
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