3 Model Assessment

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University of Massachusetts, Amherst *

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297A

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Marketing

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Apr 3, 2024

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pptx

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Uploaded by DeanEnergy11850 on coursehero.com

Assessing the Fit of the model 3 4 5 6 7 8 9 10 0 20 40 60 80 100 120 Sales 3 4 5 6 7 8 9 10 0 20 40 60 80 100 120 Sales 3 4 5 6 7 8 9 10 0 20 40 60 80 100 120 Sales A A C C B B Which model works best? Which worst? Which model works best? Which worst? the percentage of the total variation in y that can be explained by using the estimated regression equation. RMSE: root mean square error RMSE = R2=0.664 RMSE=10.76 R2=1 RMSE=0 R2=0.46 RMSE=17.18

Assessing the Fit of the model 3 4 5 6 7 8 9 10 0 20 40 60 80 100 120 Sales 3 4 5 6 7 8 9 10 0 20 40 60 80 100 120 Sales 3 4 5 6 7 8 9 10 0 20 40 60 80 100 120 Sales A A C C B B A: 66.4% of the variation in sales could be explained by advertising expenditure. R2=0.664 RMSE=10.76 R2=1 RMSE=0 R2=0.46 RMSE=17.18

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