The reason for using split samples in developing a forecasting ...

[armygirl]

The reason for using split samples in developing a forecasting model is to eliminate the potential for bias in the resulting model.
 
  Indicate whether the statement is true or false

Question 2

In a study of 30 customers' utility bills in which the monthly bill was the dependent variable and the number of square feet in the house is the independent variable, the resulting regression model is = 23.40 + 0.04x.
 
  Given this model, for a customer with a 2,000 square foot house and a monthly utility bill equal to 100.00, the residual from the regression model is approximately -3.40. Indicate whether the statement is true or false

[Heffejeff]

Answer to Question 1

FALSE

Answer to Question 2

TRUE

[armygirl]

Thank you

[Heffejeff]

Happy to help you