Which Statistical Technique Should You Use When You Are Attempting

question 4

Multiple Choice

Which statistical technique should you use when you are attempting to answer the question: "Is there a significant relationship between the customers' disposable income (measured in dollars) and their repeat-buying behavior (measured by the number of rebuys in a twelve-month period) ?"

• A)Multiple regression analysis
• B)Chi-Square test
• C)Simple regression analysis
• D)Pearson correlation coefficient
• E)None of these are correct.

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Definitions:

Forecasted Value

is a predicted value based on historical data and analysis, often used in statistics and economics.

Time Periods

Time periods are distinct intervals or spans of time that may be used for analysis, observation, or defining temporal constraints for specific activities.

Additive Model

A statistical model where the effects of different variables are summed together to predict the outcome.

Time Series Components

The underlying patterns and structures in time series data, such as trend, seasonality, and cyclical fluctuations.