A Market Research Company Is Developing a Regression Model to Predict

question 62

Multiple Choice

A market research company is developing a regression model to predict monthly household expenditures on groceries as a function of family size, household income, and household neighbourhood (urban, suburban, and rural) .The "neighbourhood" variable in this model is ___.

• A)an independent variable
• B)a response variable
• C)a quantitative variable
• D)a dependent variable
• E)a constant

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Definitions:

Dash Delivery

A rapid delivery service that aims to transport items to customers in a very short time frame, often leveraging technology for efficiency.

Foreseeable

Refers to an event or condition that a reasonable person would anticipate and therefore expect to consider while making decisions.

Insurance

A financial product that provides protection against financial loss resulting from specific risks.

Nature of Risk

The inherent features and characteristics of risk, including its potential to lead to negative outcomes or loss.