Question: If all other factors are constant, explain in detail (in your own words) what happens...

Question:

If all other factors are constant, explain in detail (in your own words) what happens to the standard error of estimate as the correlation moves closer to zero. The regression equation is intended to be the "best fitting" straight line for a set of data. What is the criterion for the best fitting? Explain in detail in your own words. Note: While the majority of your answers should be in your own words, you may cite sources to support your rationale.

The Answer I got:

The standard error to estimate decrease because the data point is closer to line. *The best fitting line is determined by the error between the predicted Y values on the line and the actual Y values in the data.

-I NEED THIS ANSWER TO BE LONGER AND TO BE EXPLAINED IN DETAIL

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Expert Solution

orchestra answered 1 year ago

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