THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 45

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Consider the following data for two variables,x and y.The independent variable x represents the amount of training time (in hours)for a salesperson starting a new car dealership to adjust fully,and the dependent variable y represents the weekly sales (in $1000s).

-Find the coefficient of determination of this simple linear model.What does this statistic tell you about the model?

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Definitions:

Cost of Goods Manufactured

The total cost incurred to manufacture products within a specific period, including materials, labor, and overhead, ready for sale.

Work in Process

Partially finished goods or goods in the process of being produced in a manufacturing setting.

Manufacturing Costs

The total expense involved in the process of producing goods, including raw materials, labor, and overhead costs.

Raw Materials Used

Raw materials used refer to the basic substances consumed in the production process to create goods and products.