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Test 2 Fall 2007 - 1 Test 2 Fall 2007 What is the range of...

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1 Test 2 Fall 2007 What is the range of the values that the correlation (r) may be? What is the range of values that the R 2 may be? What does r = +1 tell you about (1) the direction and (2) where the points are relative to the line? (1) (2) What does r = - 1 tell you about (1) the direction and (2) where the points are relative to the line? (1) (2) R 2 = 0 and r = 0 tell you the same thing about whether x and y are related. What do they tell you? Can the R 2 tell you if the relationship is positive or negative? The manager of a clothing store decided to investigate whether the number of sales clerks on duty could predict the amount (in hundreds of dollars) of merchandise lost due to shoplifting (shrinkage). Interpret R 2 for this problem. For the above TI-83 printout, interpret the slope and the intercept . Slope: Intercept: Since it seems that increasing the number of sales clerks decreases the shrinkage, I decide to pay 30 sales clerks to work next week . Predict the amount of shrinkage for next week and interpret this value in a sentence applied to the problem. Comment on the reliability of your estimate.
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