Identify the Components of Simple Linear Regression Models and Discuss

question 3

Multiple Choice

Identify the components of simple linear regression models and discuss their applications
The following table exhibits the age of antique furniture and the corresponding prices. Use the table to answer the following question(s) . (Hint: Use scatter diagram and the Excel Trendline tool where necessary) . $$\begin{array} { | l | l | } \hline \begin{array} { l } \text { Number } \\\text { of years }\end{array} & \begin{array} { l } \text { Value } \\\text { (\$) }\end{array} \\\hline 78 & 930 \\\hline 91 & 1010 \\\hline 83 & 970 \\\hline 159 & 1950 \\\hline 134 & 1610 \\\hline 210 & 2880 \\\hline 88 & 980 \\\hline 178 & 2010 \\\hline 124 & 1370 \\\hline 72 & 900 \\\hline\end{array}$$
-What is the relationship between the age of the furniture and their values?

• A) Nonlinear
• B) Linear
• C) Curvilinear
• D) No relationship

Calculate and interpret key financial ratios such as return on assets, debt ratio, and profit margin.

Identify and explain the role of contra accounts in accounting.

Understand the principles of asset depreciation and the methods used for depreciation calculation.

Understand the priority order of expenses and claims in bankruptcy scenarios.

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Definitions:

Instinctive Drift

A phenomenon where learned behavior reverts to an organism's instinctual patterns, overriding conditioning.

Pigs

Domesticated mammals known for their intelligence, social behavior, and as a source of food products.

Operant Psychologists

Psychologists who study behavior as it is influenced by its consequences, emphasizing the use of reinforcement and punishment.