A study has recently been conducted by a major computer magazine publisher in which the objective was to develop a multiple regression model to explain the variation in price of personal computers.Three independent variables were used.The following computer printout shows the final output.However,several values are omitted from the printout. Given this information,the regression model explains just under 70 percent of the variation in the price of personal computers.

Question

A study has recently been conducted by a major computer magazine publisher in which the objective was to develop a multiple regression model to explain the variation in price of personal computers.Three independent variables were used.The following computer printout shows the final output.However,several values are omitted from the printout.  Given this information,the regression model explains just under 70 percent of the variation in the price of personal computers.

Quizplus · Accepted Answer

Based on the information provided in the question, the R-squared value of the model is 0.695, which indicates that the model explains approximately 70% of the variation in the price of personal computers. Therefore, the statement is true.

A Study Has Recently Been Conducted by a Major Computer