Which of the Following Is True About Multiple Regressions

question 30

Multiple Choice

Which of the following is true about multiple regressions?

• A)It allows the use of one predictor when predicting an outcome.
• B)It works only on variables that are at the interval or ratio level.
• C)The higher the correlation between variables the greater the regression.
• D)Regression is done in the form of an equation.

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Definitions:

Consumer Surplus

The difference between the total amount consumers are willing to pay and the total amount they actually pay for a good or service.

Price Floor

A government-imposed minimum price charged on goods and services, typically above equilibrium price to prevent market prices from dropping too low.

Consumer Surplus

The difference in the amount consumers would ideally pay for a service or good versus what they really spend.

Producer Surplus

The imbalance between the desired compensation by producers for a good or service and the real income they secure.