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, .

Question

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, .

Quizplus · Accepted Answer

A simple linear regression model is considered statistically useful if it is a better predictor of Y than the sample mean. This is because the purpose of a regression model is to capture the relationship between X and Y and use it to predict Y more accurately than simply guessing the sample mean for any given value of X. Therefore, D is the best choice.

What Do We Mean When We Say That a Simple