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:

Income Elasticity

An indicator that shows the variation in demand for a product based on changes in the income levels of consumers.

Pro Football Games

Professional American football matches played by teams that are members of the National Football League (NFL) or other professional football leagues.

Normal Goods

Goods for which demand increases as the income of consumers increases and vice versa, showing a direct relationship between income and demand.

Demand Schedule

A list or table showing how much of a good or service consumers will want to buy at different prices.