The Difference Between the Predicted Value and the Actual Value

question 44

Multiple Choice

The difference between the predicted value and the actual value of a variable in a regression analysis is called:

• A) absolute divergence.
• B) estimation error.
• C) standard error.
• D) mean deviation.
• E) variance.

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Definitions:

Imports

Goods and services that are produced abroad and sold domestically

Net Exports

The value of a country's total exports minus its total imports.

Exports

Goods or services sent from one country to another for sale or trade.

Quota

A trade limitation enforced by the government, restricting the quantity or financial value of products that can be exported or imported over a set timeframe.