Explain, intuitively and technically, why predictions for (x) values further from (bar{x}) are less reliable.
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Explain, intuitively and technically, why predictions for \(x\) values further from \(\bar{x}\) are less reliable.
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Intuitively When making predictions using a regression model we rely on the relationship observed in the data between the independent variable x and t...View the full answer
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Related Book For 
Principles Of Econometrics
ISBN: 9781118452271
5th Edition
Authors: R Carter Hill, William E Griffiths, Guay C Lim
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