Refer to Scenario 2. What are the units of measurement for the standard error of the estimate?
What will be an ideal response?
The standard error of the estimate is always in the same units as the dependent variable, in this case dollars, specifically $7,211.85.
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The figure above shows the market for milk. If 250 gallons of milk a day are available, the ________ price that consumers are willing to pay for the last gallon is ________
A) maximum; $2.50 B) minimum; $2.50 C) maximum; $3.25 D) minimum; $3.25
Van, whose utility of wealth curve is shown in the above figure, owns a home that is valued at $100,000. Initially there is a 10 percent chance that the house will be destroyed by hurricane
As the risk of destruction due to hurricane rises from 10 percent to 20 percent, the minimum cost of insurance A) stays the same. B) increases by $10,000. C) increases by $20,000. D) increases by $30,000.