Business Analytics Quiz 2: 12 April 2026 (January 2026 term)

Milo Metals, a metal works shop, wants to predict the “Profit” for its products based on the expenditure spent on areas like “Quality”, “Design” and “Delivery Time”. Accordingly, data was collected for 50 different products it manufactured and sold. Milo Jr., the great grand son of Milo Sr., having joined the BS program, is interested to use regression as a tool to predict the profit. Accordingly, using the 50 sample points, he build the following FOUR models Model-1: Profit vs Quality Model-2: Profit vs Design Model-3: Profit vs Delivery Time Model-4: Profit vs Quality,Design,Delivery Time The partial regression outputs for the FOUR models are provided in Figures 1 to 4. Additionally, Table-1 provides the correlation matrix for the various columns in the data set.

Using this information, answer the given sub-questions

What is the total variability present in error terms for Model-1? (Note: Enter your answer in decimal values rounded to two decimal places. For example, if your answer is “1.235”, then enter the answer as “1.24”)

Milo Metals, a metal works shop, wants to predict the “Profit” for its products based on the expenditure spent on areas like “Quality”, “Design” and “Delivery Time”. Accordingly, data was collected for 50 different products it manufactured and sold. Milo Jr., the great grand son of Milo Sr., having joined the BS program, is interested to use regression as a tool to predict the profit. Accordingly, using the 50 sample points, he build the following FOUR models Model-1: Profit vs Quality Model-2: Profit vs Design Model-3: Profit vs Delivery Time Model-4: Profit vs Quality,Design,Delivery Time The partial regression outputs for the FOUR models are provided in Figures 1 to 4. Additionally, Table-1 provides the correlation matrix for the various columns in the data set.

Using this information, answer the given sub-questions

What is the total variability present in dependent variable? (Note: Enter your answer in decimal values rounded to two decimal places. For example, if your answer is “1.235”, then enter the answer as “1.24”)

Milo Metals, a metal works shop, wants to predict the “Profit” for its products based on the expenditure spent on areas like “Quality”, “Design” and “Delivery Time”. Accordingly, data was collected for 50 different products it manufactured and sold. Milo Jr., the great grand son of Milo Sr., having joined the BS program, is interested to use regression as a tool to predict the profit. Accordingly, using the 50 sample points, he build the following FOUR models Model-1: Profit vs Quality Model-2: Profit vs Design Model-3: Profit vs Delivery Time Model-4: Profit vs Quality,Design,Delivery Time The partial regression outputs for the FOUR models are provided in Figures 1 to 4. Additionally, Table-1 provides the correlation matrix for the various columns in the data set.

Using this information, answer the given sub-questions

What is the value for P1? (Note: Enter your answer in decimal values rounded to two decimal places. For example, if your answer is “1.235”, then enter the answer as “1.24”)