The overall predictive power of the estimated regression equation is measured by the F-sta
The overall predictive power of the estimated regression equation is measured by the F-statistic.
47) The t-test is used to test hypotheses concerning the individual regression coefficients.
48) Adjusted R2 gives the actual percentage of the variation in the dependent variable explained by the regression model.
49) Adding an independent variable to a regression model will always reduce the coefficient of determination.
50) The degrees of freedom in a regression equation is the number of observations minus the number of estimated coefficients.
51) The coefficient of determination represents the ratio of the regression sum of squares to the total sum of squares.
52) Regression analysis is used for prediction, while correlation analysis is used to measure the strength of the association between two variables.
53) The statistical significance of the slope coefficient can only be tested using the F test.
54) Log-linear demand function is also called a constant-elasticity demand function.
55) Price elasticities tend to be higher, the greater the number of substitutes.