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The following residuals are from a linear trend model used to forecast sales. 1.5 - 1.0 2.0 0.5 2.5 1.0 - 4.0 0.5 - 4.0 1.5 1.0 - 1.5 a. Compute Syx and interpret your findings. b. Compute the MAD and interpret your findings.

The following residuals are from a linear trend model used to forecast sales. 1.5 - 1.0 2.0 0.5 2.5 1.0 - 4.0 0.5 - 4.0 1.5 1.0 - 1.5 a. Compute Syx and interpret your findings. b. Compute the MAD and interpret your findings.

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter3: Straight Lines And Linear Functions
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The following residuals are from a linear trend model used to forecast sales. 1.5 - 1.0 2.0 0.5 2.5 1.0 - 4.0 0.5 - 4.0 1.5 1.0 - 1.5 a. Compute Syx and interpret your findings. b. Compute the MAD and interpret your findings. a. Syx = (Round to three decimal places as needed.) Interpret your findings. Choose the correct answer below. O A. The Syx of the model is relatively close to zero, so this is a good model for forecasting. O B. The Syx of the model is relatively close to zero, so this is a poor model for forecasting. OC. The Syx of the model is large, so this is a good model for forecasting. O D. The Syx of the model is large, so this is a poor model for forecasting. b. MAD = (Round to three decimal places as needed.) Interpret your findings. Choose the correct answer below. O A. The MAD of the model is large, so this is a poor model for forecasting. O B. The MAD of the model is large, so this is a good model for forecasting. OC. The MAD of the model is relatively close to zero, so this is a poor model for forecasting. O D. The MAD of the model is relatively close to zero, so this is a good model for forecasting.
Transcribed Image Text:The following residuals are from a linear trend model used to forecast sales. 1.5 - 1.0 2.0 0.5 2.5 1.0 - 4.0 0.5 - 4.0 1.5 1.0 - 1.5 a. Compute Syx and interpret your findings. b. Compute the MAD and interpret your findings. a. Syx = (Round to three decimal places as needed.) Interpret your findings. Choose the correct answer below. O A. The Syx of the model is relatively close to zero, so this is a good model for forecasting. O B. The Syx of the model is relatively close to zero, so this is a poor model for forecasting. OC. The Syx of the model is large, so this is a good model for forecasting. O D. The Syx of the model is large, so this is a poor model for forecasting. b. MAD = (Round to three decimal places as needed.) Interpret your findings. Choose the correct answer below. O A. The MAD of the model is large, so this is a poor model for forecasting. O B. The MAD of the model is large, so this is a good model for forecasting. OC. The MAD of the model is relatively close to zero, so this is a poor model for forecasting. O D. The MAD of the model is relatively close to zero, so this is a good model for forecasting.
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