Ch 3 Ivy Software Business & Math Stats Study Guide Graded A+

regression analysis {Ans: method of forecasting, not limited to predicting unknown variable solely from historical levels of that same variable but is able to predict based on y=what forecaster wishes to predict, dependent variable x=which forecast depends, independent variable}a multiple regression is limited to one IV. true or false {Ans: false}real estate agent says approx value house SP+125,000+3000BR+500BDR+4000WC-6000P BR=bathrooms BDR=bedrooms WC=wine cooler P=pool There are ___ zero-one variables in regression model {Ans: 2 (either or, either wine cooler or not, either pool or not)}coefficient of determination .94 for regression analysis would indicate... {Ans: 94% variation explained by regression equation}if one adds an additional variable in an effort to improve the explanation of the variability in a DV, the correlation will always go up. true or false {Ans: false}regression analysis attempts to find the line through a scatter of data points which decreases the sum of the squared deviations of the points from the line. true or false {Ans: true}