Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

in determining the best variables to choose for a linear regression model scatter plots can be used. What is an indicator of a good independent

in determining the best variables to choose for a linear regression model scatter plots can be used. What is an indicator of a good independent variable candidate for regression analysis?

1) a linear scatter plot relationship between Y and X with strong positive or negative slope

2) a perfectly vertical scatter plot relationship between Y and X

3) a perfectly horizontal scatter plot relationship between Y and X

4) a normal distribution relationship between Y and X

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A Textbook Of Mathematical Economics

Authors: Dr Chandrakant Singh

1st Edition

9353140986, 9789353140984

More Books

Students also viewed these Economics questions