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A regression analysis of company profits and the amount of money the company spent on advertising ...

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A regression analysis of company profits and the amount of money the company spent on advertising ...

A regression analysis of company profits and the amount of money the company spent on advertising found r² = 0.72. Which of these is true?
I. The model can correctly predict the profit for 72% of companies.
II. On average, about 72% of a company's profit results from advertising.
III. On average, companies spend about 72% of their profits on advertising.

▸ III only

▸ I only

▸ I and III

▸ II only

▸ none

Textbook

Stats: Modeling the World

Edition: 4^th

Authors: Bock, Velleman, De Veaux

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