Inventories - Goods Produced but Not Sold - Are Included

question 203

True/False

Inventories - goods produced but not sold - are included in GDP because we want to measure total production,not just what is purchased

---

Definitions:

Studentized Deleted Residuals

Standardized residuals that are based on a revised standard error of the estimate obtained by deleting observation i from the data set and then performing the regression analysis and computations.

Residual Transformation

Residual transformation involves altering the residuals from a data model, possibly to meet the assumptions of linear regression such as normality or homoscedasticity.

Estimated Regression Equation

A formula that models the relationship between one or more independent variables and a dependent variable.

Yearly Income

The total amount of money earned by an individual or entity in one calendar year from all sources before any deductions.