Which of the following statements is true?
A) When using a simple linear regression analysis model for prediction purposes, the potential error in the forecast will be less when the value of x used to forecast y is closer to x.
B) The accuracy of the regression forecast is improved if the standard error for the regression slope coefficient is reduced.
C) The use of regression analysis as a means of predicting the value for a dependent variable is not impacted by sampling error since the regression model uses all sample data to arrive at the regression model.
D) None of the above
A
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If a cross-elasticity with respect to price is positive then:
A) a product's sales increase when another product's price drops. B) a product's sales decline when another product's price drops. C) a product's sales decline when another product's price increases. D) a product's sales are independent of another product's price.
The goal when making the overbooking decision is to maximize supply chain profits by
A) maximizing the value of wasted capacity and the cost of capacity shortage. B) maximizing supply chain profits. C) minimizing the cost of wasted capacity and the cost of capacity shortage. D) minimizing the cost of wasted capacity and minimizing capacity shortages.