A poultry farmer that dabbles in statistics is interested in exploring the relationship between two types of feed,layer pellets and scratch,water,and the output of his laying hens.For ten days he records the number of ounces of layer pellets and scratch the hens consume and the number of fluid ounces of water and tracks the number of eggs that are produced.What is his regression equation based on the data?
He develops one equation based on three predictors,the scratch,pellets,and water,and another equation based only on the layer pellet consumption.The output for the two models are shown side by side.Comment on the two models and which one should be used.
Definitions:
Diversification
Diversification is an investment strategy aimed at reducing risk by allocating investments among various financial instruments, industries, or other categories.
Unsystematic Risk
The risk associated with a specific company or industry that can be mitigated through diversification.
Systematic Risk
The risk inherent to the entire market or market segment, also known as market risk or un-diversifiable risk.
Risk Premium
The additional return required by investors for taking a higher level of risk, compared to a safer investment.
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