Explain, intuitively and technically, why predictions for (x) values further from (bar{x}) are less reliable.

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Explain, intuitively and technically, why predictions for $x$ values further from $\bar{x}$ are less reliable.

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Principles Of Econometrics

ISBN: 9781118452271

5th Edition

Authors: R Carter Hill, William E Griffiths, Guay C Lim

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Question Posted: Mar 30, 2024 12:00 AM

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Explain, intuitively and technically, why predictions for (x) values further from (bar{x}) are less reliable.

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Intuitively When making predictions using a regression model we rely on the relationship observed in the data between the independent variable x and t...View the full answer

Principles Of Econometrics

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