comparison of regression models
Not what you're looking for?
Overheard at the water cooler: My regression model of demand is better than the one that the consultant prepared for us because it has a higher R2. Besides, my equation has three more independent variables and so is more complete then the consultant's. Comment on this statement. Would you agree with the speaker? Explain.
Purchase this Solution
Solution Summary
Comparison of regression models based on R squared.
Solution Preview
The correlation coefficient, or R squared, measures the measures the strength of the linear association between a dependent and a number of independent variables. Increasing the number of independent variables in a multiple regression will generally increase the R^2, but it isn't a good way to do it. ...
Purchase this Solution
Free BrainMass Quizzes
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.