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Choose the one alternative that best completes the statement or answers the question.
-A manufacturer of boiler drums wants to use regression to predict the number of man-hours needed to erect drums in the future. The manufacturer collected a random sample of 35 boilers and measured the following two variables:
MANHRS: = Number of man-hours required to erect the drum
PRESSURE: Boiler design pressure (pounds per square inch, i.e., psi)
Initially, the simple linear model was fit to the data. A printout for the analysis appears below:
UNWEIGHTED LEAST SQUARES LINEAR REGRESSION OF MANHRS
Give a practical interpretation of the coefficient of determination, .
Globalization
The process by which businesses or other organizations develop international influence or start operating on an international scale.
S.T.E.P. Approach
A strategic planning model that stands for Social, Technological, Economic, and Political - considering these factors when analyzing external environments for strategic planning.
Open-Book Management
A management strategy where employees are provided with company financial information to involve them in decision-making processes.
Share
An individual portion of a company's capital, represented by a stock, that entitles its holder to a proportion of the corporation's earnings and assets.
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