Linear regression analysis

1. Is an R square of 0.9 good? Why or why not?

2. Explain how to use the output of linear regression analysis to define the cost (or revenue) line.

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3. What are the advantages and disadvantages of using linear regression analysis to define cost (or revenue) lines?

Leasure Locks is a hair styling salon. The following is a list of costs connected with the salon. Identify each of the costs as variable, fixed, or mixed. Assume that activity is measured as the number of customers. Use V for variable, F for fixed, and M for mixed.

________ A. Hair products sold to customers

________ B. Computer costs for inventory maintenance

________ C. Stylists’ wages and commissions

________ D. Hair dryers

________ E. Combs, brushes, and miscellaneous hair supplies

________ F. Perming solution

________ G. Laundry service for towels and gowns

________ H. Shampoo and rinse

________ I. Utilities: water, electricity, and heat

________ J. Rent on the facilities

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