A Researcher Gathers Data on 25 Households and Estimates the Following

question 60

Multiple Choice

A researcher gathers data on 25 households and estimates the following model: .A residual plot of the estimated model is shown in the accompanying graph.What can be inferred from the residual plot?

• A)The residuals have little variation.
• B)The residuals do not exhibit any pattern.
• C)The residuals seem to fan out across the horizontal axis.
• D)The residuals are evenly distributed across the horizontal axis.

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Definitions:

Refresh The Data

The process of updating or reloading data to ensure the information displayed is current and accurate.

Data Model

An abstract model that organizes elements of data and standardizes how they relate to one another and to properties of the real world entities.

Scenario Summary Report

A document or output in decision-support and planning software that shows the outcomes of different scenarios or models tested.

Power Pivot Window

A feature in Microsoft Excel that allows users to perform powerful data analysis and create sophisticated data models.