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 October 24, 2018, 6:14 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.
Interpret regression model and r square
Do the sales prices of houses in a given community vary systematically with their sizes (as measured in square feet)? Attempt to answer this question by estimating a simple regression model where the sales price of the house is the dependent variable & the size of the house is the explanatory variable. Please see attached Excel spreadsheet for data. Interpret your estimated model and the associated coefficient of determination R2.
Assist with interpreting the data in the spreadsheet.View Full Posting Details