A construction company renovates old homes at Garden East in Karachi. Over the time, the company has found that its rupee volume of renovation work is dependent on the area’s payroll. The figures for the company’s revenues and the amount of money earned by wage earners in the area for the past six years are presented in Table 3. If the payroll for next year is expected to be PKR 600 thousand, then what is the predicted value for the company’s sales (include error of prediction in your answer)? Do this for all prediction models. Local Payroll (PKR 100,000/=) Company’s sales (PKR 100,000/=) 3 6 4 8 6 9 4 5 2 4.5 5 9.5 ii) If in part a (above), if we add another input variable along with Local Payroll, then we will obtain a multiple regression model for predicting Company’s sales. How should the correlation between the input variables vary?

A construction company renovates old homes at Garden East in Karachi. Over the time, the company has found that its rupee volume of renovation work is dependent on the area’s payroll. The figures for the company’s revenues and the amount of money earned by wage earners in the area for the past six years are presented in Table 3. If the payroll for next year is expected to be PKR 600 thousand, then what is the predicted value for the company’s sales (include error of prediction in your answer)? Do this for all prediction models. Local Payroll (PKR 100,000/=) Company’s sales (PKR 100,000/=) 3 6 4 8 6 9 4 5 2 4.5 5 9.5 ii) If in part a (above), if we add another input variable along with Local Payroll, then we will obtain a multiple regression model for predicting Company’s sales. How should the correlation between the input variables vary?

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter4: Eigenvalues And Eigenvectors

Section4.6: Applications And The Perron-frobenius Theorem

Problem 25EQ

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