03. Which statement best describes how to interpret the standard error of the estimate? Question 3Answer a. A model with a larger standard error of the estimate indicates that our predictions are typically closer to observed values than a model with a lower standard error of the estimate. b. A model with a larger standard error of the estimate indicates that our predictions are typically farther away from observed values than a model with a higher standard error of the estimate. c. A lower value indicates that our predictions are typically farther away from observed values than a model with a higher standard error of the estimate. d. A high standard error of the estimate indicates a high R^2