Question 16 The error term in a regression model represents o a. a random error in the data. o b.unsystematic variation in the dependent variable. o c. variation not explained by the independent variables. o d. all of these. Question 14 Which of the following best describes the relationship between cost and accuracy in forecasting? a. low cost methods are always less accurate o b. statistical methods are more costly and more accurate oc. there is a trade-off between cost and accuracy o d. cost should not be considered in business forecasting Question 13 On average, the differences between the actual and predicted values of Y o a. are equal to bo o b.sum to an unknown value. oc. are distributed uniformly. o d. sum to zero