À financial analyst builds a regression model to predict the cost of a project based upon several project characteristics. Partial Excel output is displayed below. How much variation in the project cost is accounted for by the regression model?
Family of Curves
A family of curves is a group of curves that are each described by a parametrization in which one or more variables are parameters. In general, the parameters have more complexity on the assembly of the curve than an ordinary linear transformation. These families appear commonly in the solution of differential equations. When a constant of integration is added, it is normally modified algebraically until it no longer replicates a plain linear transformation. The order of a differential equation depends on how many uncertain variables appear in the corresponding curve. The order of the differential equation acquired is two if two unknown variables exist in an equation belonging to this family.
XZ Plane
In order to understand XZ plane, it's helpful to understand two-dimensional and three-dimensional spaces. To plot a point on a plane, two numbers are needed, and these two numbers in the plane can be represented as an ordered pair (a,b) where a and b are real numbers and a is the horizontal coordinate and b is the vertical coordinate. This type of plane is called two-dimensional and it contains two perpendicular axes, the horizontal axis, and the vertical axis.
Euclidean Geometry
Geometry is the branch of mathematics that deals with flat surfaces like lines, angles, points, two-dimensional figures, etc. In Euclidean geometry, one studies the geometrical shapes that rely on different theorems and axioms. This (pure mathematics) geometry was introduced by the Greek mathematician Euclid, and that is why it is called Euclidean geometry. Euclid explained this in his book named 'elements'. Euclid's method in Euclidean geometry involves handling a small group of innately captivate axioms and incorporating many of these other propositions. The elements written by Euclid are the fundamentals for the study of geometry from a modern mathematical perspective. Elements comprise Euclidean theories, postulates, axioms, construction, and mathematical proofs of propositions.
Lines and Angles
In a two-dimensional plane, a line is simply a figure that joins two points. Usually, lines are used for presenting objects that are straight in shape and have minimal depth or width.
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![A financial analyst builds a regression model to predict the cost of a project based upon several project characteristics. Partial Excel output is displayed below. How much variation in the project cost is accounted for by the regression model?
**Regression Statistics**
- Multiple R
- R Square: 0.849
- Adjusted R Square
- Standard Error: 8.718
- Observations: 102
Enter your answer as a **percentage** rounded to one (1) decimal place.
**Your Answer:**
[Text Box]
**Answer**
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**Explanation:**
This data represents statistical measures derived from a regression analysis. Here’s what each term means:
- **R Square (0.849):** This value represents the proportion of the variance in the dependent variable (project cost) that can be predicted from the independent variables. An R Square of 0.849 indicates that approximately 84.9% of the variation in the project cost is explained by the regression model.
- **Multiple R:** This is not provided but typically indicates the correlation coefficient, showing the strength and direction of a linear relationship between independent and dependent variables.
- **Adjusted R Square:** This usually adjusts the R Square for the number of predictors in the model, giving a more accurate measure when multiple variables are involved. However, this value is not provided.
- **Standard Error (8.718):** This measures the average distance that the observed values fall from the regression line. A lower standard error indicates a better fit.
- **Observations (102):** This indicates the number of data points or projects considered in the analysis.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6835fe2b-4dfe-4db0-80f6-f1ad78fce3f2%2F09c93c7b-1c73-4221-b50a-9a5ec1e65567%2Fmis3o7g_processed.jpeg&w=3840&q=75)
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