Question

Which of the following is true about regression analysis?

a. It is theoretically less sound than the high-low method.
b. it is based on two data points
c. it is sometimes referred to as the line of best fit
d. the resulting R-squared statistic shows how well the line fits the data points.

Answer 1

Regression analysis is sometimes referred to as the line of best fit and the resulting R-squared statistic shows how well the line fits the data points.

Step-by-step explanation:

The true statement about regression analysis is that c. it is sometimes referred to as the line of best fit and d. the resulting R-squared statistic shows how well the line fits the data points.

Regression analysis is a statistical method used to determine the relationship between two variables. It involves finding the best-fit line that minimizes the sum of squared errors (SSE) between the observed data points and the predicted values on the line. The R-squared statistic, also known as the coefficient of determination, measures the proportion of the variation in the dependent variable (y) that can be explained by the independent variable (x).