Asked by Elia Adele Marcheline on Jun 11, 2024
Verified
{Grateful Dead Concert Narrative} Determine the standard error of estimate and describe what this statistic tells you about the model's fit.
Standard Error of Estimate
An indicator of how accurate predictions are using a regression line, shown by the average gap between the observed values and the regression line.
Grateful Dead Concert
A live performance by the American rock band Grateful Dead, known for their unique and eclectic style, as well as their devoted fan base known as "Deadheads."
Concert Goers
Individuals who attend live music performances or concerts.
- Evaluate and understand the standard error of estimate as it pertains to linear regression models.
Verified Answer
MC
María CamilaJun 18, 2024
Final Answer :
sε = 0.9397,and since the sample mean 
,we would have to admit that the standard error of estimate is not very small.On the other hand,it is not a large number either.Because there is no predefined upper limit on sε,it is difficult in this problem to assess the model in this way.However,using other criteria,the fit of the model is reasonable.
,we would have to admit that the standard error of estimate is not very small.On the other hand,it is not a large number either.Because there is no predefined upper limit on sε,it is difficult in this problem to assess the model in this way.However,using other criteria,the fit of the model is reasonable.
Learning Objectives
- Evaluate and understand the standard error of estimate as it pertains to linear regression models.