Show Recommended textbook solutions Krugman's Economics for AP2nd EditionDavid Anderson, Margaret Ray 1,042 solutions Principles of Economics8th EditionN. Gregory Mankiw 1,209 solutions Essentials of Economics6th EditionN. Gregory Mankiw 760 solutions Principles of Microeconomics7th EditionN. Gregory Mankiw 830 solutions What are the assumptions of the error term in a regression model?Assumptions of the Classical Linear Regression Model:
The error term has a zero population mean. 3. All explanatory variables are uncorrelated with the error term 4. Observations of the error term are uncorrelated with each other (no serial correlation).
Which of the following is an assumption about the error term ε in linear regression analysis?In regression analysis, which of the following is a required assumption about the error term ε? The variance of the error term is the same for all values of X.
What is the error term in regression?An error term represents the margin of error within a statistical model; it refers to the sum of the deviations within the regression line, which provides an explanation for the difference between the theoretical value of the model and the actual observed results.
Why error term is important in the regression analysis?A regression line always has an error term because, in real life, independent variables are never perfect predictors of the dependent variables. Rather the line is an estimate based on the available data. So the error term tells you how certain you can be about the formula.
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In regression analysis, which of the following is not a required assumption about the error term
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