When I want to make a prediction but don't have the value of X on which to base that prediction, my best estimate is
A) the value that I calculate with a regression equation.
B) the smallest value of Y.
C) the mean of Y .
D) There is no good prediction.

Question

Quizplus · Accepted Answer

When we do not have the value of X, we can use the mean of Y as our best estimate or prediction. This is because the mean captures the central tendency of the data and provides a reasonable estimate of the expected outcome. It is also the simplest and most straightforward method to use in the absence of other information. Choice A is not correct because a regression equation requires the value of X to make predictions. Choice B is not correct because the smallest value of Y may not be a good representation of the overall trend. And choice D is not correct because we can still make a prediction based on the available information.

When I Want to Make a Prediction but Don't Have