What Is the Best Way to Make a Prediction

question 17

Multiple Choice

What is the best way to make a prediction?

• A)using simple statistical analysis
• B)making a best guess based on past experience
• C)employing residual analysis
• D)building a predictive model
• E)hypothesizing

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Definitions:

Multiple Regression

An approach in statistics utilizing multiple independent variables to forecast the outcome of a target variable.

Linear Function

A mathematical equation that produces a straight line on a graph, typically described with the formula y = mx + c, where m is the slope and c is the y-intercept.

Independent Variables

Variables in an experiment that are manipulated or changed to observe their effect on dependent variables.

Independent Variables

Variables in an experiment or statistical model that are manipulated or categorized to observe their effect on dependent variables.