In regression analysis, we can often use the standard error of estimate to judge which of several potential regression equations is the most useful.

Question

In regression analysis, we can often use the standard error of estimate  to judge which of several potential regression equations is the most useful.

Quizplus · Accepted Answer

The standard error of estimate is a measure of the accuracy of the regression equation in predicting the dependent variable. Therefore, a smaller standard error of estimate indicates a more useful regression equation, and can be used to compare several potential equations.

In Regression Analysis, We Can Often Use the Standard Error