Statistics Homework Solutions
#9815
Regression Models
One of the assumptions for regression models is that the dependent variable must be at least interval scale data. Can you please explain why.
And A local company wanted to predict the weekly sales based on the weekly newspaper advertising dollars. The model that result is: ŷ= -0.1 + 0.7x, where the dependent variable is the amount of sales realized during the week and the independent variable is the amount spent on newspaper advertising during the week. Interpret the meaning of the values "-0.1" and "0.7" in the context of the problem. Please explain in relating to an example easy to understand.
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