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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, .
Tax Liability
The total amount of taxes an individual or organization owes to the tax authorities.
Income Subsidy
Financial assistance programs provided by governments or institutions to individuals or groups to help supplement their income, typically aimed at the needy or to promote certain economic activities.
After-Tax Income
The amount of net income left after all federal, state, and withholding taxes have been deducted from an individual's earnings.
Tax Liability
The total amount of taxes owed by an individual or a corporation to the tax authorities.
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