After Transforming Data, a Model of Retail Sales of Furniture

question 24

Multiple Choice

After transforming data, a model of retail sales of furniture and fixtures in Canada on value of building permits yielded the following equation: log10 (Sales) = 2.33 + 0.57 log10 (Value of permits)
What is the predicted value of retail sales if the value of building permits is $700,000?

• A) $458,887.14
• B) $5.66
• C) $2,137.96
• D) $3.33
• E) $22,060.33

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Definitions:

Political Violence

Political violence refers to violent acts committed with the aim to achieve political objectives, which can include terrorism, civil war, targeted assassinations, and other forms of violence used by both state and non-state actors.

Democracy

A form of government in which power is held by the people, who exercise power directly or through elected representatives.

Popular Sovereignty

The principle that the authority of a state and its government is created and sustained by the consent of its people, through elected representatives.

Constitutional Amendment

A formal change or addition to a constitution, often requiring a specific process of proposal and ratification by the government or the people.