A Measure of Goodness of Fit for the Estimated Regression

question 58

Multiple Choice

A measure of goodness of fit for the estimated regression equation is the

• A)multiple coefficient of determination
• B)mean square due to error
• C)mean square due to regression
• D)sample size

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Definitions:

FICA

FICA refers to the Federal Insurance Contributions Act, which is a U.S. law that requires a payroll tax to fund Social Security and Medicare programs.

OASDI

An acronym for Old-Age, Survivors, and Disability Insurance, a comprehensive federal benefits program that provides benefits to retired people, the disabled, and survivors of deceased workers.

Medicare

A federal health insurance program in the United States primarily for people aged 65 and older, as well as for some younger people with disabilities.

FUTA

FUTA (Federal Unemployment Tax Act) is a United States federal law that imposes a payroll tax on any business with employees, the funds are used to pay unemployment benefits.