Which of the Following Statements About the Coefficient of Determination

question 29

Multiple Choice

Which of the following statements about the coefficient of determination (R²) is correct?

• A) R² is a measure of economic plausibility.
• B) The higher the R², the more confident we are when using a regression model to predict costs.
• C) R² is a measure of data accuracy.
• D) R² is a useful measure only for simple regressions.

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Definitions:

Sampling Frames

A list or database from which a sample is drawn, representing the entire population or target demographic for a research study.

Nonprobability Sampling

A method of sampling in which not every member of the population has an equal opportunity to be chosen.

Quota Sampling

A non-random sampling technique where the researcher fills quotas from different subgroups of the population.

Sample

A set of individuals or items selected from a wider population.