In Examining the Data Below,the Manager Exclaimed That He Was

question 47

Multiple Choice

In examining the data below,the manager exclaimed that he was very happy to see no bias in the forecasts.How would you respond to the manager?

• A)You are correct.
• B)I'm sorry,but there is a slight negative bias.
• C)I'm sorry,but there appears to be a slight positive bias.
• D)There is no way to estimate bias with the given information.

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Definitions:

Stepwise Regression

An approach to constructing regression models where the selection of predictor variables is performed through an automated process.

Forward Selection

A stepwise regression approach where variables are sequentially added to an empty model based on their statistical significance in predicting the outcome.

Significant Contribution

An important or valuable addition or impact that significantly affects an outcome or process.

Stepwise Regression Technique

A method of fitting a regression model by adding or removing predictors based on a specified criterion.