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Linear Regression Model Technical Terms and Diagram Interpretation

Learn the technical names and interpretations in the simple generic linear regression model. Identify the relationship between Prego units sold and advertising expenditures. Test your knowledge on OLS acronym meaning.

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Linear Regression Model Technical Terms and Diagram Interpretation

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  1. DRQ #9AGEC 317 3 pts October 15, 2013 (1 pt) 1. In the simple generic linear regression model, yi= b0+ b1xi +ei, give the technical names of yi, xi, and ei. (1/2 pt) 2. Suppose that b1 is estimated to be -.3. Interpret this coefficient. (1/2 pt) 3. Which of the following diagrams best describes the relationship of the number of Prego units sold (Prego Units) and advertising expenditures (A) made by Prego? (1/2 pt) 4. What is the technical name of the respective diagrams? (1/2 pt) 5. The acronym OLS stands for ? c) a) b) d) . . A . . . A Prego-Units Prego-Units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A A Prego-Units Prego-Units

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