FORESTRY
AGRICULTURAL STATISTICS AND ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
the explanatory variable is parents’ income, and you expect to see a negative association.
|
|
|
the explanatory variable is parents’ income, and you expect to see a positive association.
|
|
|
the explanatory variable is parents’ income, and you expect to see very little association.
|
|
|
the explanatory variable is years of education, and you expect to see a negative association.
|
|
|
the explanatory variable is years of education, and you expect to see a positiveassociation.
|
Detailed explanation-1: -The slope is the predicted change in the response variable associated with a one unit increase in the explanatory variable. The line always passes through the point, (x, y), the means of the explanatory and response variables, respectively It is the line that minimizes the sum of the squared residuals.
Detailed explanation-2: -The term “least squares” is used because it is the smallest sum of squares of errors, which is also called the “variance.” In regression analysis, dependent variables are illustrated on the vertical y-axis, while independent variables are illustrated on the horizontal x-axis.
Detailed explanation-3: -The Least Squares Regression Line is the line that minimizes the sum of the residuals squared. In other words, for any other line other than the LSRL, the sum of the residuals squared will be greater. This is what makes the LSRL the sole best-fitting line.