Which of the Following Best Describes the Model

question 54

Multiple Choice

Which of the following best describes the model ?

• A) It is a third-order polynomial model.
• B) It is a second-order polynomial model.
• C) It is a first-order polynomial model since there is only one independent variable x.
• D) It is a quadratic model since the termwill often be dropped out of the model based on sample information.

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Definitions:

Unbiased Estimator

A statistical estimator whose expected value is equal to the parameter being estimated, indicating accuracy across samples.

Expected Value

The long-run average value of repetitions of the same experiment or random process, calculated as the sum of all possible values weighted by their probabilities of occurrence.

Parameter

A numerical characteristic or feature of a population that is estimated using sample data.

Sample Variance

A measure of the dispersion or variability within a sample dataset, indicating how much the individual data points differ from the sample mean.