In interpreting regression statistics, we are interested in determining if the r
ID: 3254515 • Letter: I
Question
In interpreting regression statistics, we are interested in determining if the regression model/formula provides a benefit in estimation relative to simply estimating the value of all y's to be the mean of the data. One way to make this determination is to compare the standard error of the estimate and the standard deviation of the data. Which of the following statements is true? (Select one statement)
A.) It is important that the standard error of the estimate is exactly equal to the standard deviation of the data in order to have good estimation from our regression formula.Explanation / Answer
OptionA is correct
It is important that the standard error of the estimate is equals to the standard deviation of the data in order to have good destination from our regression formula