What Are the Explained Sum of Squares (ESS),the Unexplained Sum

question 39

Essay

What are the Explained Sum of Squares (ESS),the Unexplained Sum of Squares (USS),and the Total Sum of Squares (TSS)? Explain.

---

Definitions:

Bank's Assets

refer to the resources owned by a bank, including loans, investments, cash, and other valuables.

Fed's Assets

The assets held by the Federal Reserve, including government securities, gold certificates, foreign exchange, and loans to banks.

Banking System

The structural network of financial institutions, including central banks and commercial banks, that provides financial services to the economy.

Credit Cards

Financial tools issued by banks allowing users to borrow funds for purchases, subject to repayment with interest.