Goodness-of-fit measures how well the predicted values in a cost estimating equation
A)match the cost driver.
B)match the actual cost observations.
C)fit the coefficient of determination.
D)rely on the independent variable.
E)rely on the dependent variable.

Question

Quizplus · Accepted Answer

Goodness-of-fit measures how well the predicted values in a cost estimating equation match the actual cost observations. It assesses the degree of correspondence between the predicted values and observed values.

Goodness-Of-Fit Measures How Well the Predicted Values in a Cost