To estimate the accuracy of predicted values, Ŷ, found in bivariate regression, it is useful to calculate the ________, the standard deviation of the actual Y values for the predicted Ŷ values.
A)coefficient of determination
B)standard error of the estimate
C)covariance
D)standard error

Question

Quizplus · Accepted Answer

The standard error of the estimate measures the variation of the actual Y values from the predicted Ŷ values, and therefore, it is the best choice to estimate the accuracy of predicted values in bivariate regression. The coefficient of determination measures the proportion of variance in the dependent variable that is explained by the independent variable, while the covariance measures the strength and direction of the linear relationship between two variables. The standard error is a more general term that relates to the precision of statistical estimates or measurements.

To Estimate the Accuracy of Predicted Values, Ŷ, Found in Bivariate