The cubic regression model,y = β₀ + β₁x + β₂x² + β₃x³+ ε,is used when we assume that the relationship between x and y should be captured by a function that has either minimum or maximum,but not both.

Question

Quizplus · Accepted Answer

The statement is incorrect. The cubic regression model can capture both the minimum and maximum points in the relationship between x and y, depending on the values of the coefficients.

The Cubic Regression Model,y = β0 + β1x + β2x2

The Cubic Regression Model,y = β₀ + β₁x + β₂x²