The smaller the value of the standard error of the regression estimate,the better the fit of the regression model.

Name: The smaller the value of the standard error of the regression estimate,the better the fit of the regression model.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A smaller standard error of the regression estimate indicates that the data points are closer to the regression line, which means that the model is a better fit for the data. Therefore, the statement is true.

The Smaller the Value of the Standard Error of the Regression