Predicting Specific Dependent Values Based on Independent Variable Inputs Is

question 16

Multiple Choice

Predicting specific dependent values based on independent variable inputs is referred to as ________ and is an example of ________ analytics.

• A) regression; prescriptive
• B) regression; predictive
• C) classification; prescriptive
• D) classification; predictive

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Definitions:

Dependent Variable

In statistical modeling, this is the variable that is being tested and measured to see if it is influenced by one or more independent variables.

Explanatory Variables

Variables in a statistical model that are used to explain changes or differences in a response variable.

T-Statistic

A value used in hypothesis testing, calculated as the difference between an observed sample mean and the population mean divided by the standard error of the mean.

Coefficient on Education

A statistical measure in regression that represents the change in the dependent variable resulting from a one-unit change in the level of education, all else being equal.