Which approach is most appropriate if the purpose of the regression analysis is forecasting?
A)standardized regression coefficient (β)
B)Y-intercept α
C)coefficient of determination (R²)
D)raw parameter estimates

Question

Quizplus · Accepted Answer

Raw parameter estimates should be chosen if the purpose of the regression analysis is forecasting. Raw parameter estimates represent the actual parameter estimates for the predictor variables and provide the basis for making predictions. They are not affected by scaling or standardizing the data and, therefore, provide the most accurate estimates for forecasting purposes. The other options, such as standardized regression coefficients, y-intercept, and coefficient of determination, are useful for different purposes such as understanding the relationships between variables, representing the intercept of the regression line, and measuring the proportion of the variance in the dependent variable that is explained by the independent variables.

Which Approach Is Most Appropriate If the Purpose of the Regression