Consider the following OLS regression results, 9-10.46+0.271x, R² -0.13. Calculate the predicted value of y when x is equal to16. Round to the nearest tenth (one decimal place).

In given equation: y= 10.46+0.271x 10.46 is the intercept 0.271 is the slope y is the dependent…

Answered: Consider the following OLS regression…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.3: Simple Regression Models

Problem 5P: Management of a home appliance store wants to understand the growth pattern of the monthly sales of...

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Consider the following OLS regression results, ĝ-10.46+0.271x, R²-0.13. Calculate the predicted value of y when x is equal to 16. Round to the nearest tenth (one decimal place).