The Simple Linear Regression Model Assumes There Is a _____

question 39

Multiple Choice

The simple linear regression model assumes there is a _____ between the dependent variable and the independent variable.

• A)normal relationship
• B)reverse relationship
• C)linear relationship
• D)correlation

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Definitions:

Labor Market

The supply and demand for labor, where employers seek to hire labor and workers seek employment.

Compensation Contracts

Agreements that outline the salary, bonuses, and other forms of payment an employee receives from an employer.

Price Ceiling

A regulation that sets the maximum allowable price for a particular good or service, intended to prevent sellers from charging high prices during demand spikes.

Government Intervention

Actions taken by government to affect the economy, markets or societal issues, which can include regulations, subsidies, and taxes.