Please help with this problem that was given in class, I want to say Model II is a better model because it has a better "perfect fit" but I don't think that is the only reason.
See the attached file.© BrainMass Inc. brainmass.com March 4, 2021, 6:13 pm ad1c9bdddf
See the attachment.
1) The March 1, 1984 issue of the Wall Street Journal published data which relate to the advertising budget (in millions of dollars) of 21 firms for 1983 and millions of impressions retained per week by the viewers of the products of these firms. The data are based on a survey of 4000 adults in which users of the products were asked to cite a commercial they had seen for the product category in the past week. Letting Y represent impressions retained and X the advertising expenditure, the following regressions were obtained:
se = (7.089) ...
The solution assists with interpreting models in the given questions that are provided.