Answer to Question #121731 in Statistics and Probability for Joseph Se

Question

1. Which of the following is the best definition of a parsimonious model?

A. The model with the highest R^2
B. The model that includes all the predictors that your audience is interested in.
C.The model with the most number of predictors.
D.The simplest model with the highest predictive power.

2. A high correlation between two explanatory variables such that the two variables contribute redundant information to the model is known as

A. adjusted R^2
B. homoscedasticity
C. collinearity
D. heteroscedasticity
E. multiple correlation
F. heterogeneity
G. multiple interaction
H. homogeneity

Answer 1

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