This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Would it be better for a customer buying a diamond to have a negative residual or a positive ... (Read 74 times)

natalie2426

  • Hero Member
  • *****
  • Posts: 524
on: Jul 25, 2018
Would it be better for a customer buying a diamond to have a negative residual or a positive residual from this model? Explain.
 
  In an effort to decide if there is an association between the year of a postal increase and the new postal rate for first class mail, the data were gathered from the United States Postal Service. In 1981, the United States Postal Service changed their rates on March 22 and November 1. This information is shown in the table below.

Question 2

Interpret the intercept of your model in context.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

tranoy

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jul 25, 2018
Answer to Question 1

It would be better for customers to have a negative residual from this model, since a negative residual would indicate that the actual cost of the diamond was less than the model predicted it to be.

Answer to Question 2

The intercept of the model is -558.52. The model predicts that a diamond of 0 carats costs -558.52. This is not realistic.


natalie2426

  • Member
  • Posts: 524
Reply 2 on: Jul 25, 2018
YES! Correct, THANKS for helping me on my review

ebonylittles

  • Member
  • Posts: 318
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Cell-wall structure of Gram-positive and Gram-negative bacteria. Cell-wall structure of Gram-positive and Gram-negative bacteria.
Buying a Telescope Buying a Telescope
Step 8 is very important. Be sure that the customer’s concern has been corrected. Step 8 is very important. Be sure that the customer’s concern has been corrected.
Positive and negative selection during T-cell development. Positive and negative selection during T-cell development.
How to find two positive angles less than 360° for a reciprocal trigonometric function (secant) How to find two positive angles less than 360° for a reciprocal trigonometric function (secant)
Video: Primary Active Transport - electrochemical gradient and ion transport / water movement

For a complete list of videos, visit our video library