When Predicting Y from X by Means of a Regression

question 28

Multiple Choice

When predicting Y from X by means of a regression line, the standard deviation of actual observations (actual Y scores) around the regression line is known as the _______.

• A) standard error of measurement
• B) standard error of estimate
• C) error factor
• D) slope

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Definitions:

FASB

The Financial Accounting Standards Board, responsible for establishing and improving standards of financial accounting and reporting in the U.S.

Legal Obligations

Commitments or duties that are enforced by law, requiring entities or individuals to act or refrain from acting in a certain way.

Nonlegal Obligations

Obligations that are not enforceable by law but may be morally or ethically binding.

GAAP

Generally Accepted Accounting Principles (GAAP) are a set of rules, standards, and procedures that companies must follow when compiling their financial statements in the United States.