A multiple regression model is assessed to be good if the error sum of squares SSE and the standard error of estimate s_e are both small, the coefficient of determination R ² is close to 1, and the value of the test statistic F is large.

Question

Quizplus · Accepted Answer

A good multiple regression model typically has a small error sum of squares (SSE) and a small standard error of estimate, indicating that the model's predictions are close to the actual values. A coefficient of determination (R^2) close to 1 suggests that the model explains a large proportion of the variance in the dependent variable. A large F-statistic value indicates that the model is statistically significant, meaning that at least one of the predictors is significantly related to the dependent variable.

A Multiple Regression Model Is Assessed to Be Good If