One Way to Measure the Quality of the Regression Model

question 90

Multiple Choice

One way to measure the quality of the regression model is to inspect the value of the:

• A)constant term
• B)coefficient on x
• C)coefficient of determination
• D)mean of x

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Definitions:

Satisfaction

The contentment one feels when one's needs, desires, or expectations are fulfilled or surpassed.

Diminishing Marginal Utility

A principle stating that as a consumer consumes more of a good or service, the utility (satisfaction) gained from each additional unit decreases.

Supply Curves

Graphical representations that show the relationship between the price of a good and the quantity of the good that producers are willing to supply.

Demand Curves

Graphical representations showing the relationship between the price of a product and the quantity of the product that consumers are willing and able to purchase.