What is the measure that indicates how precise a prediction of Y is based on X or, conversely, how inaccurate the prediction might be?
A) Regression equation
B) Slope of the line
C) Standard error of estimate

Question

Quizplus · Accepted Answer

The standard error of estimate measures the variability of the actual Y values around the predicted Y values based on the regression equation. Therefore, it indicates how accurate or precise the prediction of Y is based on X or how inaccurate the prediction might be. The regression equation and slope of the line are important in determining the relationship between X and Y, but they do not provide information about prediction accuracy.

What Is the Measure That Indicates How Precise a Prediction