In Multiple Regression, the Constant

question 80

Multiple Choice

In multiple regression, the constant :

• A) is the expected value of the dependent variable Y when all of the independent variables have the value zero
• B) is necessary to fit the multiple regression line to set of points
• C) must be adjusted for the number of independent variables
• D) are all of these options

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Definitions:

Economic Models

Simplified representations of complex economic processes used to predict future economic activity or to understand economic dynamics.

Assumptions

Premises or conditions that are accepted as true without proof, used as a basis for reasoning or conduct in theories and models.

Linear Production

A production process where outputs increase in direct proportion to the amounts of inputs, implying a constant ratio of output to input in production functions.

Pairs of Socks

Articles of clothing worn on the feet, typically coming in matching sets of two, one for each foot.