Find the Best Predicted Value of Y Corresponding to the Given

question 114

Multiple Choice

Find the best predicted value of y corresponding to the given value of x.
-The regression equation relating dexterity scores $( \mathrm { x } )$ and productivity scores ( $\mathrm { y } )$ for the employees of a company $\hat { y } = 5.50 + 1.91 \mathrm { x }$ . Ten pairs of data were used to obtain the equation. The same data yield $\mathrm { r } = 0.986$ and $\bar { y } = 56.3$ . What is the best predicted productivity score for a person whose dexterity score is 33 ?

• A) \(56.30\)
• B) \(58.20\)
• C) \(68.53\)
• D) \(183.41\)

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Definitions:

Profit Maximization

This strategy entails making business decisions that increase a firm's profits to its highest potential by evaluating cost structures and price points.

Price Elasticity Of Demand

A measure of how much the quantity demanded of a good responds to a change in its price, indicating its sensitivity.

Marginal Cost

The additional cost incurred from producing one more unit of a good or service.

Profit-Maximizing Seller

An economic agent whose primary objective is to achieve the highest possible profit from their sales.