The Statistical Procedure That Produces Predictions with the Lowest Sum

question 38

Multiple Choice

The statistical procedure that produces predictions with the lowest sum of squared differences between actual and predicted values in a regression equation is called:

• A) SPSS.
• B) unexplained variance.
• C) ordinary least squares.
• D) the slope.
• E) regression coefficient.

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Definitions:

Random Variable

A variable whose numerical values stem from unpredictable phenomena.

Normally Distributed

Describes a probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Starting Salaries

The initial amount of money that an employee earns annually when beginning a new job.

Standard Deviation

A system for evaluating the degree of dispersion or deviation among a collection of statistics.