A random sample of 30 companies from the Forbes 500 list (which actually consists of nearly...

A random sample of 30 companies from the Forbes 500 list (which actually consists of nearly 800 companies) was selected and the relationship between sales (in hundreds of thousands of dollars) and profits (in hundreds of thousands of dollars) was investigated by regression. The following results were obtained from statistical software:

Determine whether each of the following statements is true or false.

The explanatory variable in this study is profits

Select one:

True

False

Expert Solution

We have given the random sample of 30 companies from the Forbes 500 list (which actually consists of nearly 800 companies) was selected and the relationship between sales (in hundreds of thousands of dollars) and profits (in hundreds of thousands of dollars) was investigated by regression.

And we know that, The response variable is a depends on explanatory variable and explanatory variable is independent.

In this case, profit is depends on the sales that is profit is a response variable and sale is an explanatory variable.

Therefore, The the given statement is False.

The correct statement is, The explanatory variable in this study is sale.

orchestra answered 2 years ago

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