The three components of the regression model-building process are model specification, model fitting, and model diagnosis.

Question

Quizplus · Accepted Answer

These are indeed the three primary components of the regression model-building process. Model specification involves selecting the appropriate form of the model and variables to include. Model fitting is about estimating the model parameters using data. Model diagnosis checks the model's validity and assumptions, ensuring it adequately represents the data.

The Three Components of the Regression Model-Building Process Are Model