In the Least Squares Equation, Ŷ = 10 + 20X

question 10

Multiple Choice

In the least squares equation, Ŷ = 10 + 20X the value of 20 indicates

• A) the Y intercept increases by 20 units for each unit increase in X.
• B) that Y increases by 20 units for each unit increase in X.
• C) that X increases by 20 units for each unit increase in Y.
• D) the error in prediction.

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Production Function

A mathematical expression that determines the output of a company, sector, or the total economy for every possible mix of inputs.

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The aggregate of all spending related to the creation of goods or services, which includes fixed and variable costs.