I the Least Squares Technique Minimizes the Sum of the Squares

question 43

Multiple Choice

i. The least squares technique minimizes the sum of the squares of the vertical distances between the actual Y values and the predicted values of Y.
ii. When a regression line has a zero slope, indicating a lack of a relationship, the line is vertical to the x-axis.
Iii) In regression analysis, the predicted value of Y' rarely agrees exactly with the actual Y value, i.e., we expect some prediction error.

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and (ii) are correct statements, but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) All statements are false

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Definitions:

Scheduling Customers

Scheduling customers involves allocating specific times and resources for serving customers in various contexts, such as appointments or deliveries, to enhance efficiency and customer satisfaction.

Workforce

The group of individuals who are currently employed or are available for employment, including both full-time and part-time workers.

Capacity Decision

Choices made by a company regarding the amount of resources it will commit to meet demand for its products or services.

Organization's Strategy

The comprehensive plan created by a business or organization to achieve its long-term goals and successfully operate in the competitive environment.