Identify the Components of Simple Linear Regression Models and Discuss

question 14

Multiple Choice

Identify the components of simple linear regression models and discuss their applications
The following table exhibits the age of antique furniture and the corresponding prices. Use the table to answer the following question(s) . (Hint: Use scatter diagram and the Excel Trendline tool where necessary) . $$\begin{array} { | l | l | } \hline \begin{array} { l } \text { Number } \\\text { of years }\end{array} & \begin{array} { l } \text { Value } \\\text { (\$) }\end{array} \\\hline 78 & 930 \\\hline 91 & 1010 \\\hline 83 & 970 \\\hline 159 & 1950 \\\hline 134 & 1610 \\\hline 210 & 2880 \\\hline 88 & 980 \\\hline 178 & 2010 \\\hline 124 & 1370 \\\hline 72 & 900 \\\hline\end{array}$$
-Which of the following is true of linear functions used in predictive analytical models?

• A) It is used when the rate of change in a variable decreases or increases quickly and then levels out.
• B) It is used when there is a steady decrease or increase over a range of a variable.
• C) It is used when there is increase at a specific rate.
• D) It is used when there is a rise or fall at a constantly increasing rate.

Identify characteristics of data represented in scatter diagrams including the strength and direction of a relationship.

Understand when and how to use a line chart efficiently.

Distinguish between positive and negative linear relationships.

Understand the intersection of race, gender, and workplace dynamics as they impact Black women.

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Definitions:

Loans

Financial agreements where money is lent to another party in exchange for future repayment of the principal amount along with interest or other finance charges.

Retained Earnings

The portion of a company's profits that is kept or retained within the company to be used for business growth or debt repayment, rather than being distributed to shareholders as dividends.

Venture Capital

Investment provided by financiers to startups and small firms believed to possess a strong potential for growth in the long run.

Anticipated Profits

Expected financial gains based on projected business activities, market conditions, and strategies, before they are actually realized.