R-Sq Is a Measure of

question 8

Multiple Choice

R-sq is a measure of ...

• A)the change in the y-variable that corresponds with the change in the x-variable.
• B)the probability that the regression line makes a correct prediction.
• C)the percentage of the accuracy of the regression equation.
• D)the initial predicted starting point of the response variable when x is zero.
• E)the proportion of the variability in the response variable that is explained by the explanatory variable.

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Definitions:

Marginal Utility

The additional satisfaction a consumer gains from consuming one more unit of a good or service.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision or choice.

Consumption Time

The duration or period during which a consumer utilizes or enjoys a product or service.

Opportunity Cost of Time

The cost associated with forgoing the next best alternative when one chooses to spend time on a specific activity.