Author Question: The _____ is a measure of the error in using the estimated regression equation to predict the values ... (Read 45 times)

CORALGRILL2014 · **on:** Jun 24, 2018

The _____ is a measure of the error in using the estimated regression equation to predict the values of the dependent variable in a sample.
a. sum of squares due to regression (SSR)
b. error term
c. sum of squares due to error (SSE)
d. residual

Question 2

When Jessica takes the direct route to work, she gets there in 25 minutes if no train is at the railroad crossing. When a train is using the crossing, her travel time is 10 minutes longer. Her alternative is a route that takes 32 minutes to travel, but has no traffic signals or other delays. Assuming that shorter transit times are more desirable, which route will Jessica select if she uses the minimax regret criterion? Explain.

tsternbergh47 · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

C

Answer to Question 2

Direct route; This criterion minimizes the maximum possible regret. Jessica's maximum possible regret if she takes the direct route is 3 minutes; if she takes the longer route, it is 7 minutes. Therefore, using the minimax regret criterion, Jessica will take the direct route, since her maximum possible route on that route is only 3 minutes as compared to 7 minutes on the longer route.