Which of the Following Regression Models Is a First-Order Polynomial

question 48

Multiple Choice

Which of the following regression models is a first-order polynomial?

• A) y = β₀ + ε
• B) y = β₀ + β₁x + ε
• C) y = β₀ + β₁x +β₂x²+ ε
• D) y = β₀ + β₁x + β₂x² + β₃x³ + ε

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Definitions:

System I

A term often used in behavioral economics to describe the fast, instinctive, and emotional way of thinking, as opposed to slower, more deliberative thinking.

Availability

The ease with which a particular piece of information can be recalled from memory, often influenced by recent experience or emotional impact.

Representativeness Heuristics

A mental shortcut used to judge the probability of an event by its similarity to a prototype or stereotype.

System II

refers to the deliberative, analytical and slower thinking process in dual-process theories of cognition.