MGT 200 Study Guide - Final Guide: Statistical Hypothesis Testing, Form 10-Q, List Of Statistical Packages
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Statistical technique that describes the relationship among variables. Makes all residuals as small as possible- minimizes the sum of the squared residuals. Where the regression line crosses the vertical axis (exp variable 0) Average expenditure on x by those who have zero y. How the explanatory variable effects the response variable how much the dependent variable changes if the explanatory variable changes (what happens to y as x changes) Y = a + bx if x increases by 1 unit, y will increase by b units. Difference between the actual and the predicted value of the dependent variable. The amount of variation predicted by the model (goes from 0 to 1) A high r2 means that the model perfectly predicts the information, and a low r2 means that it doesn"t predict things very well. Predict the level how much someone with x income will spend on food.
