How is the efficacy of a regression model measured? 2. What is the standard error of the estimate?

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1. How is the efficacy of a regression model measured? 2. What is the standard error of the estimate? What information does it provide? 3. How should you interpret the value of the dependent variable generated by the fitted regression model for a specific value of the explanatory variable? 4. Explain why the prediction interval is necessarily wider than the corresponding confidence interval.

 

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