Q: If you had two variables, the weight of a car measured in pounds and the fuel economy measured in miles per gallon, then which of the following quantitative modeling methodologies would be preferred for modeling fuel economy as a function of weight?
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Q: Which of the following quantitative modeling approaches would be most suited for simulating fuel economy as a function of weight if you had two variables: the car’s weight in pounds and its fuel efficiency in miles per gallon?
- A Markov chain
- A probability tree
- A Monte Carlo Simulation
- A regression model
Explanation: A regression model is specifically designed to analyze the relationship between a dependent variable (in this case, fuel economy) and one or more independent variables (in this case, weight). By using regression analysis, you can quantify how changes in the weight of a car are associated with changes in its fuel economy, allowing for predictions and insights into this relationship.
