When Two Regression Models Applied on the Same Data Set

question 115

Multiple Choice

When two regression models applied on the same data set have the same response variable but a different number of explanatory variables,the model that would evidently provide the better fit is the one with a

• A)Lower standard error of the estimate and a higher coefficient of determination.
• B)Higher standard error of the estimate and a higher coefficient of determination.
• C)Higher coefficient of determination and a lower adjusted coefficient of determination.
• D)Lower standard error of the estimate and a higher adjusted coefficient of determination.

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Definitions:

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business.

Profit

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

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A marketing strategy that aims to establish a brand or product in the mind of the target audience relative to competitors.

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Lighting units designed for use inside buildings that enhance functionality, atmosphere, and aesthetic appeal of interior spaces.