Question: in determining the best variables to choose for a linear regression model scatter plots can be used. What is an indicator of a good independent

in determining the best variables to choose for a linear regression model scatter plots can be used. What is an indicator of a good independent variable candidate for regression analysis?

1) a linear scatter plot relationship between Y and X with strong positive or negative slope

2) a perfectly vertical scatter plot relationship between Y and X

3) a perfectly horizontal scatter plot relationship between Y and X

4) a normal distribution relationship between Y and X

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!