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QUESTION
A regression analysis of company profits and the amount of money the company spent on advertising produced R -squared = 0.72. Which of the following
A regression analysis of company profits and the amount of money the company spent on advertising produced R -squared = 0.72. Which of the following statements is true?
I. This model can correctly predict the profit for 72% of companies.
II. 72% of the variance in company profit can be accounted for by the model.
III. On average, companies spend about 72% of their profits on advertising.
