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Author Question: In multiple regression, when two or more independent variables are highly correlated with one ... (Read 74 times)

Charlie

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on: Mar 6, 2021

Question 1

Grandy's Beer was to manufacture 600 cases of ale next week. The accountant provided the following analysis of total manufacturing costs. 

VariableCoefficientStandard Errort-Value
Constant15082.391.29
Independent variable245103.252.19
 r2 = 0.83 

What is the estimated cost of producing the 600 cases of ale?
◦ $147,150
◦ $90,245
◦ $61,950
◦ $49,434

Question 2

In multiple regression, when two or more independent variables are highly correlated with one another, the situation is known as ________.
◦ heteroscedasticity
◦ homoscedasticity
◦ multicollinearity
◦ autocorrelation
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Marked as best answer by Charlie on Mar 6, 2021

ally

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Reply #1 on: Mar 6, 2021
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Charlie

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Reply 2 on: Mar 6, 2021
:D TYSM

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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