Examlex
A country raises the tariff on imported beef in order to increase its price above the price of domestically produced beef.This is an example of _____.
Y-Intercept
The y-intercept of a line or curve on a graph is the point at which it crosses the y-axis, indicating the value of the dependent variable when all independent variables are zero.
Slope
In the context of linear regression, the slope indicates the change in the dependent variable for each unit change in the independent variable.
Least Squares Regression Line
A straight line that best fits the data according to the method of least squares, minimizing the sum of the squares of the differences between observed and predicted values.
Actual Value
The true value of a parameter or measurement, often unknown in practice and estimated from data.
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