What do we mean when we say that a simple linear regression model is "statistically" useful?
A)All the statistics computed from the sample make sense.
B)The model is an excellent predictor of Y.
C)The model is "practically" useful for predicting Y.
D)The model is a better predictor of Y than the sample mean,Y .

Question

Quizplus · Accepted Answer

A simple linear regression model is "statistically" useful if it is a better predictor of Y than the sample mean, Y. This means that the model is providing significant additional information about the relationship between the independent variable and the dependent variable beyond what can be explained by chance or randomness. While practical usefulness and the sense of computed statistics are important considerations, the main criterion for statistical usefulness is the predictive power of the model. Therefore, option D is the best choice.

What Do We Mean When We Say That a Simple