Exhibit 9.1
The following questions are based on the problem description and spreadsheet below.
A company has built a regression model to predict the number of labor hours (Yi) required to process a batch of parts (Xi). It has developed the following Excel spreadsheet of the results. 
-Refer to Exhibit 9.1. Interpret the meaning of R Square in cell B3 of the spreadsheet.
Definitions:
Cohort Differences
Variations in characteristics or experiences between different groups of people typically born and living during the same period.
Cross-Sectional
A type of study or analysis that examines a population or a specific outcome at a single point in time.
Longitudinal
A type of study or analysis that follows the same subjects over a period of time to observe changes or outcomes.
Cross-Sectional Study
A research method that involves observing a defined population at a single point in time or over a short period, making it possible to examine correlations and infer potential causations.
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