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DRQ 8 Dr. Capps AGEC 317 4 points

DRQ 8 Dr. Capps AGEC 317 4 points. What is the sum of all residuals equal to? (1 point) 0 How do you interpret these correlation coefficients? -0.001 (1/2 point) a very small negative correlation or linear association among two variables

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DRQ 8 Dr. Capps AGEC 317 4 points

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  1. DRQ 8 Dr. Capps AGEC 317 4 points • What is the sum of all residuals equal to? (1 point) 0 • How do you interpret these correlation coefficients? • -0.001 (1/2 point) a very small negative correlation or linear association among two variables • 0.9 (1/2 point) a very large positive correlation or linear association among two variables

  2. DRQ 8 Dr. Capps AGEC 317 4 points • __Principle of Parsimony(definition)___ simple models are generally preferred to complex models, especially in forecasting (1 point) • What are two of the four assumptions of a regression model? • Constant variance of the error term • No correlation of the error term at observations i and j • No correlation of the error term with any explanatory variable • The mean of the error term is equal to 0

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