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It Is Dangerous to Predict Outside the Range of the Data

question 67

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It is dangerous to predict outside the range of the data collected in a regression analysis. For instance, we shouldnʹt predict the price of a 5000 square foot home if all our sample homes were
Smaller than 4500 square feet. Which of the following multiple regression pitfalls does this example
Describe?


Definitions:

Categories

Divisions or classifications of items, concepts, or information based on shared characteristics or criteria.

Internal Referencing Strategy

A method used within documents or presentations that involves referring back to previously mentioned points or sections for clarity or emphasis.

IRS

Stands for Internal Revenue Service, the U.S. government agency responsible for tax collection and tax law enforcement.

Declarative Learning

A cognitive process through which individuals acquire facts and information that can be explicitly stated or described.

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