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Simone has worked as an editorial assistant at a magazine publisher for the last six months. Her boss is impressed with her dedication and hard work, and suggests that Simone learn about other parts of the publishing business. He has arranged for Simone to spend time working in design and layout, advertising sales, and production. What is this type of job enrichment called?
Residual
The difference between the observed value and the value predicted by a model, indicating the error in prediction for that specific point.
Least-squares Line
A line of best fit determined by the least squares method, which minimizes the sum of squared vertical distances between the actual data points and the predicted points on the line.
Unbiased Estimator
A statistical estimator whose expected value exactly equals the parameter it estimates.
Intercept
The value of the dependent variable when all independent variables in a regression model are set to zero, representing the model’s starting point.
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