Suppose a company is studying the relationship between the price of crude oil and its transportation cost. It conducts a regression analysis and finds the sample coefficient of determination to be 0.88. Which of the following statements CANNOT be concluded? Select all that apply. There is a strong positive relationship between the price of crude oil and transportation cost in the sample studied. There is a strong positive relationship between the price of crude oil and transportation cost in the population. It is estimated that 88% of variation in the company's transportation cost can be explained by variation in the price of crude oil It is estimated that 22% of variation in the company's transportation cost is explained by variables other than the price of crude oil
Suppose a company is studying the relationship between the price of crude oil and its transportation cost. It conducts a regression analysis and finds the sample coefficient of determination to be 0.88. Which of the following statements CANNOT be concluded? Select all that apply. There is a strong positive relationship between the price of crude oil and transportation cost in the sample studied. There is a strong positive relationship between the price of crude oil and transportation cost in the population. It is estimated that 88% of variation in the company's transportation cost can be explained by variation in the price of crude oil It is estimated that 22% of variation in the company's transportation cost is explained by variables other than the price of crude oil
Chapter4: Linear Functions
Section: Chapter Questions
Problem 30PT: For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or...
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