A high R² measure in regression analysis is preferred because: A)it indicates a good fit of the regression line through the data points. B)it shows that a great deal of the change in the dependent variable is explained by change in the independent variable. C)it means that the independent variable is a good predictor of the dependent variable. D)it means that the cost analyst can be relatively confident in his or her cost predictions. E)all of the preceding statements are truE.

Question

Quizplus · Accepted Answer

A high R² measure in regression analysis indicates that the regression line fits well with the data points, a large portion of the changes in the dependent variable can be attributed to the independent variable, and the independent variable serves as a good predictor of the dependent variable. Therefore, the cost analyst can be relatively sure of his or her cost predictions. All of these statements are true, making answer choice E the correct option.

A High R2 Measure in Regression Analysis Is Preferred Because

A High R² Measure in Regression Analysis Is Preferred Because