How well can we evaluate a regression equation “fits†the data
by examining the R Square...
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Economics
How well can we evaluate a regression equation “fits†the databy examining the R Square statistic, and test for statisticalsignificance of each independent variable in the regressionequation by using the t-test?
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A particular regression involves two kinds of value for each data points ObservedActual Values Fitted Values Residuals ObservedActual Values Fitted Values The main objective of every regression model is to minimize the difference between fitted and actual values The regression line passing all the
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