A Market Analyst Is Developing a Regression Model to Predict

question 5

Multiple Choice

A market analyst 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:

Industry Output

The total production of goods and services by all firms operating within a certain industry over a specific period.

Discount Sources

Various means or strategies by which buyers can obtain goods or services at reduced prices, such as coupons, clearance sales, or promotional codes.

Cost Function

A mathematical formula that calculates the total cost incurred by a company to produce a specific quantity of a product or service.

Used-Car Dealer

A business or individual that specializes in selling pre-owned vehicles to consumers.