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The following model for marketing expense, sales revenue, and price (all in dollars) has an R- squared value of 0.87 with p < 0.0001 while level of significance is 0.01. Your analyst suggests that they should also include anoNher variable in the model, number of employees (in the company) even though you both agree it doesn't make sense. What would you expect the new R-squared value would be compared to its current value of 0.877 O We can't know if the new R-squared will be higher or lower because it depends on the relevance of the new variable (number_of_employees). O The new R-squared value will definitely below lower than 0.87. O The new R-squared value will be at least 0.87 or higher.

The following model for marketing expense, sales revenue, and price (all in dollars) has an R- squared value of 0.87 with p < 0.0001 while level of significance is 0.01. Your analyst suggests that they should also include anoNher variable in the model, number of employees (in the company) even though you both agree it doesn't make sense. What would you expect the new R-squared value would be compared to its current value of 0.877 O We can't know if the new R-squared will be higher or lower because it depends on the relevance of the new variable (number_of_employees). O The new R-squared value will definitely below lower than 0.87. O The new R-squared value will be at least 0.87 or higher.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The following model for marketing expense, sales revenue, and price (all in dollars) has an R- squared value of 0.87 with p < 0.0001 while level of significance is 0.01. Your analyst suggests that they should also include anoher variable in the model, number of employees (in the company) even though you both agree it doesn't make sense. What would you expect the new R-squared value would be compared to its current value of 0.877 O We can't know if the new R-squared will be higher or lower because it depends on the relevance of the new variable (number of_employees). O The new R-squared value will definitely below lower than 0.87. O The new R-squared value will be at least 0.87 or higher.
Transcribed Image Text:The following model for marketing expense, sales revenue, and price (all in dollars) has an R- squared value of 0.87 with p < 0.0001 while level of significance is 0.01. Your analyst suggests that they should also include anoher variable in the model, number of employees (in the company) even though you both agree it doesn't make sense. What would you expect the new R-squared value would be compared to its current value of 0.877 O We can't know if the new R-squared will be higher or lower because it depends on the relevance of the new variable (number of_employees). O The new R-squared value will definitely below lower than 0.87. O The new R-squared value will be at least 0.87 or higher.
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