Which of the Following Statistical Measures Is Used to Help

question 113

Multiple Choice

Which of the following statistical measures is used to help decision makers assess the potential for their model to provide usable forecasts?

• A) The mean absolute deviation
• B) The mean square error
• C) Both A and B
• D) Neither A nor B

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Definitions:

Response Variable

The outcome variable of interest in a study or experiment, which is hypothesized to depend on one or more independent variables.

Boxplot

A graphical representation used in statistics to show the distribution of numerical data and highlight the mean, median, quartiles, and outliers.

Influential Points

Data points that have a disproportionately large effect on the results of a statistical analysis, potentially skewing the analysis.

Scatterplot

A graphical representation where individual data points are plotted on a two-dimensional plane, showcasing the relationship between two variables.