I in the Linear Trend Equation, the Letter "B" Is

question 28

Multiple Choice

i. In the linear trend equation, the letter "b" is the average change in t for each change of one unit (either increase or decrease) in y.
ii. The least squares method of computing the equation for a straight line going through the data of interest gives the "best fitting" line.
iii. A straight-line trend equation is used to represent the time series when it is believed that the data is increasing (or decreasing) by equal amounts, on the average, from one period to another.

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and (ii) are correct statements, but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) All statements are false

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Definitions:

Mutually Exclusive Events

Two events that cannot occur at the same time.

Dependent Events

Events whose occurrence or outcome is influenced by other events.

Mutually Exclusive Events

Events that cannot happen at the same time in any given experiment or observation.

Independent Events

Two events are independent if the occurrence of one does not affect the probability of the occurrence of the other.