Examlex
If marginal product is equal to average product, then total product is at a maximum.
Sample Regression Equation
A formula that estimates the relationship between a dependent variable and one or more independent variables, based on sample data.
Intercept
The value of the dependent variable when all independent variables are equal to zero in a regression equation.
Indicator Variable
A variable that takes a value of 1 if a specific condition is true and 0 if it is not.
Interaction Term
A term in a statistical model that captures the effect of two or more variables interacting or influencing each other in a way that their individual effects cannot independently account for.
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