If computing a causal linear regression model of Y = a + bX and the resultant r² is very near zero,then one would be able to conclude that A)Y = a + bX is a good forecasting method. B)Y = a + bX is not a good forecasting method. C)a multiple linear regression model is a good forecasting method for the data. D)a multiple linear regression model is not a good forecasting method for the data. E)None of the above

Question

Quizplus · Accepted Answer

A correlation coefficient (r) near zero indicates a weak linear relationship between X and Y, which means Y = a + bX is not a good forecasting method as it cannot effectively capture the relationship between the two variables. The options regarding multiple linear regression models are not relevant to the given information.

If Computing a Causal Linear Regression Model of Y =