Your Business Studies Lecturer Has Devoted the Past Ten Weeks

question 3

Multiple Choice

Your business studies lecturer has devoted the past ten weeks to teaching you the Bayesian approach and is now asking that you offer a critique of it. What key criticism could you raise?

• A) The reliance on a prior probability is overly objective and therefore not open to a researcher's degrees of freedom.
• B) The reliance on a prior probability is overly subjective and therefore can be open to a researcher's degrees of freedom.
• C) The lack of reliance on a null hypothesis is overly objective and therefore open to a researcher's degrees of freedom.
• D) The lack of reliance on a prior probability is overly subjective and therefore can be open to a researcher's degrees of freedom.

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Definitions:

Regression Line

A line through a scatter plot of data points that best expresses the relationship between those points.

Best Fit

"Best fit" refers to a line or curve that most closely approximates the data points in a scatter plot, used in linear regression and other modeling techniques to predict outcomes.

Multiple Regression

A statistical approach that involves using several predictor variables to determine the expected outcome of a response variable.