If the R-Squared Value Is Low, Then Using OLS Equation

question 26

True/False

If the R-squared value is low, then using OLS equation is very easy to predict individual future outcomes on y given a set of values for the explanatory variables.​

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Definitions:

Productivity Increases

Improvements in the efficiency of producing goods or services, leading to higher output from the same or lesser inputs.

Labor Force

The total number of people, including both the employed and unemployed, who are actively looking for work in an economy.

National Income

The total amount of money earned within a country from the production of goods and services over a specific period, typically one year.

Strike

A strike is a collective action undertaken by workers refusing to work, aiming to gain concessions from their employer regarding wages, conditions, or policies.