Respuesta :
The level of production explains 49% of the variation in total costs
What is a regression equation?
For evaluating the associations between a dependent variable and one or more independent variables, a regression equation is a set of statistical procedures.
Here, we have
Given,
A regression equation is set up, where the dependent variable is total costs and the independent variable is production. a correlation coefficient of 0.70.
The coefficient of determination is given as r²
which is 0.7²=0.49.
Hence, the level of production explains 49% of the variation in total costs.
To learn more about the regression equation from the given link
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Complete Question.
A regression equation is set up, where the dependent variable is total costs and the independent variable is production. A correlation coefficient of 0.70 implies that:
A. The coefficient of determination is negative
B. The level of production explains 49% of the variation in total costs
C. There is a slightly inverse relationship between production and total costs
D. A correlation coefficient of 1.30 would produce a regression line with better fit to the data
