Given Below Is the Scatter Plot of the Number of Employees

question 123

True/False

Given below is the scatter plot of the number of employees and the total revenue ($millions) of 20 U.S.companies.There appears to be a positive relationship between total revenue and the number of employees.

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Definitions:

Stepwise Regression

A procedure in regression analysis that automatically chooses the variables to be used for prediction.

Forward Selection

A stepwise regression approach where variables are sequentially added to the linear model based on their statistical significance in explaining the outcome variable.

Backward Elimination

A method in statistical model building where all variables are included at the start and then removed one by one based on some criteria.

F Statistic

A ratio used in ANOVA tests to determine if the variances between means of several groups are significantly different.