A student estimated a regression model that used the number of pages in bestselling hardcover books to
Question:
A student estimated a regression model that used the number of pages in bestselling hardcover books to predict the book’s price. Explain why this conclusion is wrong: “The 0.75 R2 is pretty large, when you consider that the price of a book is
$20; that is, $15 of the price is explained by the number of pages.”
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Related Book For
Essential Statistics Regression And Econometrics
ISBN: 9780123822215
1st Edition
Authors: Gary Smith
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