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Computed Regression

Briefly state the evaluation criteria for using a computed regression equation; specifically, comment on the coefficient of determination, correlation coefficient, and standard error of the estimate.

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The standard error of the estimate is a measure of the accuracy of predictions made with a regression line. The regression line seeks to minimize the sum of the squared errors of prediction. The square root of the average squared error of prediction is used as a measure of the accuracy of prediction. This measure is called the standard error of the estimate and is designated as ...

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