Suppose you have developed a regression model to explain the relationship between y and x1, x2, and
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Suppose you have developed a regression model to explain the relationship between y and x1, x2, and x3. The ranges of the variables you observed were as follows: 50 … y … 100, 10 … x1 … 75, .25 … x2 … .75, and 2,000 … x3 … 2,500. Will the error of prediction be smaller when you use the least squares equation to predict y when x1 = 40, x2 = .5, and x3 = 2,300, or when x1 = 80, x2 = .9, and x3 = 1,850? Why?
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