Given Below Is the Scatter Plot of the Number of Employees

question 107

True/False

Given below is the scatter plot of the number of employees and the total revenue ($millions) of 20 U.S.companies.Companies that have higher numbers of employees appear to also have higher total revenue.

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Definitions:

Correlations Matrix

A table showing the correlation coefficients between sets of variables, indicating how closely changes in one variable are associated with changes in another.

Predictor Variables

Variables in statistical models that are used to predict or explain changes in the outcome variable.

Multicollinearity

A situation in regression analysis where two or more predictors are closely correlated, making it difficult to distinguish their individual effects.

Predictor Variables

Variables in statistical models that are used to predict or estimate the value of another variable, known as the response variable.