What do we mean when we say that a simple linear regression model is "statistically" useful?
A) All the statistics computed from the sample make sense.
B) The model is an excellent predictor of Y.
C) The model is "practically" useful for predicting Y.
D) The model is a better predictor of Y than the sample mean, .

Question

What do we mean when we say that a simple linear regression model is "statistically" useful?
A) All the statistics computed from the sample make sense. 
B) The model is an excellent predictor of Y. 
C) The model is "practically" useful for predicting Y. 
D) The model is a better predictor of Y than the sample mean, .

Quizplus · Accepted Answer

A simple linear regression model is considered "statistically" useful if it is a better predictor of the dependent variable (Y) than simply using the sample mean. Option D states this explicitly. Option A is not the main consideration for usefulness, and options B and C suggest "practical" usefulness rather than statistical usefulness.

What Do We Mean When We Say That a Simple