The standard error of the estimate is used as a measure of the accuracy of the predictions in regression; it is analogous to the standard error of the mean used in estimating a population mean from a sample.

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Quizplus · Accepted Answer

The statement is true. The standard error of the estimate measures the variability of the predicted values around the regression line and is used as an indicator of how well the regression model fits the data. The standard error of the mean, on the other hand, measures the variability of sample means around the population mean and is used as an indicator of the precision of the sample mean as an estimator of the population mean. Both standard errors provide information about the accuracy or precision of an estimate, but in different contexts.

The Standard Error of the Estimate Is Used as a Measure