Nominal Values Are

question 131

Multiple Choice

Nominal values are

• A) measured in terms of actual market prices at which the goods are sold.
• B) based on inflation-adjustments.
• C) based on Gross Domestic Product (GDP) per capita.
• D) measured in terms of total purchasing power.

---

Definitions:

Sum of Squares for Error

A measure of the discrepancies or variations between observed and predicted values in a data set, used in statistical analysis.

SSE

Sum of Squared Errors, a measure of the discrepancies between the data and an estimation model.

Minimized

In statistical or mathematical context, refers to the process of reducing a quantity to its smallest possible value or making an equation or function as small in value as possible.

Sum of Squares for Error

A measure used in statistical analysis to quantify the variation within a data set that is not explained by the model.