Examlex
"Essential elements" refers to
Predicted Amount
The value estimated based on a model or regression equation representing the expected outcome.
Dollars
A unit of currency used in various countries, typically represented by the symbol $.
Simple Linear Regression
A statistical method that models the linear relationship between a dependent variable and one independent variable.
Standard Error of Estimate
Indicates the average distance that the observed values fall from the regression line, measuring the accuracy of predictions.
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