Question: Write at least 200 words and include 1 APA 7 reference from the last 5 years for the following prompt: three measures for the goodness
Write at least 200 words and include 1 APA 7 reference from the last 5 years for the following prompt: three measures for the "goodness of fit" of the least- Squares line for given data. These measures were the standard error of estimate, correlation coefficient, and coefficient of determination. Discuss how these measurements are different and how they are similar to each other. Be sure to include a discussion of explained variation, unexplained variation, and total variation in your answer. Draw a sketch and include appropriate formulas. 4. Look at the formula for confidence bounds for least-squares predictions. Which of the following conditions do you think will result in a shorter confidence interval for a prediction? a. Larger or smaller values for the standard error of estimate b. Larger or smaller number of data pairs c. A value of x near x or a value of x far away from ???????? 5. Why would a shorter confidence interval for a prediction be more desirable than a longer interval
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