Ceteris Paribus Means

question 64

Multiple Choice

Ceteris paribus means

• A)one variable too many.
• B)the correct relationship specified.
• C)assuming economic motives.
• D)all other things held constant or nothing else changes.

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Definitions:

Residuals

Differences between observed and predicted values in a statistical model, representing unexplained variation.

Predicted Values

Estimates or forecasts of a variable or outcome based on a model or analysis of correlated variables.

Actual Y Values

The observed values of the dependent variable in a data set or experiment, compared against predicted values in regression analysis.

Estimated Regression Line

A line calculated from the data that best fits the relationship between the independent variable(s) and the dependent variable, used to predict the value of the dependent variable from the independent variable(s).