Reliable model? In justifying their choice for a model, a person says, I know this models prediction
Question:
Reliable model? In justifying their choice for a model, a person says, “I know this model’s prediction is reliable because R2 = 98.7%.”
a) Is this reasoning correct? Explain.
b) What else is needed to justify whether a model is reliable in its prediction? Explain.
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Related Book For 
Business Statistics
ISBN: 9781292269313
4th Global Edition
Authors: Norean Sharpe, Richard De Veaux, Paul Velleman
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