157 Suppose you have developed a regression model to explain the relationship between y and x1, x2,...

Question:

157 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: 10 … y … 100, 5 … x1 … 55, .5 … x2 … 1, and 1,000 … x3 … 2,000. Will the error of prediction be smaller when you use the least squares equation to predict y when x1 = 30, x2 = .6, and x3 = 1,300, or when x1 = 60, x2 = .4, and x3 = 900? Why?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistics

ISBN: 9781292022659

12th International Edition

Authors: James T Mcclave, Terry Sincich

Question Posted: