In justifying his choice of a model, a consultant says I know this is the correct model

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In justifying his choice of a model, a consultant says “I know this is the correct model because R2 = 99.4%.”
a) Is this reasoning correct? Explain.
b) Does this model allow the consultant to make accurate predictions? Explain.

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Business Statistics

ISBN: 9780321925831

3rd Edition

Authors: Norean Sharpe, Richard Veaux, Paul Velleman

Question Posted: May 15, 2015 05:32 AM

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In justifying his choice of a model, a consultant says I know this is the correct model

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a The students reasoning is not correct A scattered residuals plot not high R 2 is t...View the full answer

Business Statistics

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