I Trying to Predict Weekly Sales with a Standard Error

question 141

Multiple Choice

i. Trying to predict weekly sales with a standard error of estimate of $1,955, we would conclude that 68 percent of the predictions would not be off more than $1,955, 95 percent would not be off by more $3,910, and 99.7 percent would not be off by more than $5,865. ii. Approximately 95% of the values lie within two standard errors of the regression line.
iii. The smaller the sample, the smaller the possible error as measured by the standard error of estimate.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Classical Conditioning

An educational method where an indifferent stimulus is linked with a significant stimulus, thereby gaining the ability to provoke comparable reactions.

Automaker

A company that manufactures and sells automobiles, playing a key role in the automotive industry.

Peaceful Settings

Environments or situations characterized by calmness and tranquility, often conducive to relaxation or meditation.

Conditioned Stimulus

A previously neutral stimulus that, after being associated with an unconditioned stimulus, evokes a conditioned response.