Suppose you forecast the values of all of the independent variables and insert them into a multiple regression equation and obtain a point prediction for the dependent variable.You could then use the standard error of the estimate to obtain an approximate
A)confidence interval.
B)prediction interval.
C)hypothesis test.
D)independence test.

Question

Quizplus · Accepted Answer

The standard error of the estimate is used to calculate prediction intervals, which provide a range of values within which we expect the dependent variable to fall for a given set of independent variables. Confidence intervals are related but are used to estimate the uncertainty around a parameter estimate, not a prediction for a new observation. Hypothesis and independence tests are different statistical procedures not directly related to the use of the standard error of the estimate in this context.

Suppose You Forecast the Values of All of the Independent