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QMDS Vocab test 4
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Terms in this set (17)
Least Square Method
A procedure used to develop an estimate of the regression equation that minimizes the sum of the square errors
Dependent Variable
The variable that you are predicting or explaining
Independent Variable
The variable that is doing the predicting or explaining
Regression Equation
The equation that describes the relationship between the expected value of the dependent variable and the independent variable
Regression Model
The equation that describes the relationship between the independent variable and the dependent variable and an error term
The values of E are independent
The error term E is normally distributed
The variance of the error term E is the same for all values of x
Which of the following are assumptions underlying the simple linear regression model y=B0+B1X+E?
Correlation
Calculated values must be between -1 and 1
Correlation and Regression
Can be tested for statistical significance
Regression
Provides a way to predict a specific value of one variable (such as weight) from the value of another variable (such as height)
Multiple Regression Model
An equation describing the linear relationship between a dependent variable and two or more independent variables and an error term
Multiple Coefficient of Determination
A value that describes the percent of variability in the dependent variable that is explained by the variability in the independent variables
Categorical Independent Variable
An independent variable that is not quantitative; instead its values represents a finite number of distinct categories
Intercept
Also known as the constant term, the predicted value when all independent values are set at zero
Estimated Multiple Regression Equation
An equation produced by using the least squares method on a sample of data consisting of one dependent variable and two or more independent variables
Adjusted Multiple Coefficient of Determination
A value that describes the percent of variability in the dependent variable that is explained by the variability in the independent variables that also takes into consideration the number of independent variable
Dummy Variable
A variable that only has two possible values - typically 0 and 1 - that is used to model the effect of a categorical variable in a regression model
Regression Coefficients
The values or weights that multiply the independent variables in a regression equation
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