Suppose you have developed a regression model to explain the relationship between y and x,, x2, and
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Suppose you have developed a regression model to explain the relationship between y and x,, x2, and x,.
The ranges of the variables you observed were as follows: 10 5 y 5 100, 5 5 x, 5 55, .5 5 x2 5 1, and 1,000 5 x, 5 2,000. Will the error of prediction be smaller when you use the least squares equation to predict y when x, = 30, x2 = .6, and x3 = 1,300, or x, = 60, x2 = .4, and x, = 900? Why?
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Statistics For Business And Economics
ISBN: 9780130272935
8th Edition
Authors: James T. McClave, Terry Sincich, P. George Benson
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