What is a fitted value for a multiple regression model and the data that is used...

What is a fitted value for a multiple regression model and the data that is used to create it? Select one.

-It is the difference between the actual value of the response variable and the corresponding predicted value (regression error) using the multiple regression model.

-It is a statistic that explains the relationship between response and predictor variables.

-It is a statistic that is used to evaluate the significance of the multiple regression model.

-It is the predicted value of the response variable using the multiple regression model.

Solutions

Expert Solution

Solution:

In multiple regression equation, if we are given data values regarding independent variables, then we use these values of independent variables and solve the multiple regression equation to find the value of dependent variable ( also called as response variable), that is we fit or estimate the value of dependent variable by using values of independent variables.

Thus this is called as predicted values of response variable is called as fitted value for a multiple regression model.

Thus correct answer is: It is the predicted value of the response variable using the multiple regression model.

the difference between the actual value of the response variable and the corresponding predicted value (regression error) using the multiple regression model, this called as Residual. Thus this option is Incorrect for given statement.

a statistic that explains the relationship between response and predictor variables is called as Slope, thus this option is Incorrect for given statement.

a statistic that is used to evaluate the significance of the multiple regression model is a F test statistic, thus this option is Incorrect for given statement.

orchestra answered 1 year ago

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