Even When an Unimportant Variable Is Added to a Regression

question 61

True/False

Even when an unimportant variable is added to a regression model, the explained variation will increase.

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Definitions:

Auto Insurance

An agreement between an individual and an insurer to cover financial losses related to car incidents.

Insurance Policy

A contract between an individual or entity and an insurance company, outlining the terms and conditions under which the insurer agrees to compensate the insured for specific losses.

Steel Bridge

A steel bridge is a type of bridge that uses steel as its primary construction material, known for its strength, durability, and ability to span long distances.

Contracted

The condition of having entered into a formal agreement, typically enforceable by law.