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A value ofrcloses to -----indicates that the regression equation is is extremely useful for making predictions.

Short Answer

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A value of rcloses to ±1indicates that the regression equation is is extremely useful for making predictions.

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01

Step-1 Given Information

we have to fill the blank in " value of r closes to -----indicates that the regression equation is is extremely useful for making predictions.

02

Step-2 Explanation

When the value of r approaches ±1, the regression equation is particularly useful for generating predictions.

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Most popular questions from this chapter

Tine Series. A collection of observations of a variable y taken at regular intervals over time is called a time series. Bocoomsic data and electrical signals are examples of time series. We can think of a time series as providing data points x1+y2where x0is the ith observation time and yiis the observed value of y at time xi. If a time series exhibits a linear trend, we can find that trend by determining the regression equation for the data points. We can then use the regression equation for forecasting purposes.

As an illustration, consider the data on the WeissStats site that shows the U.S. population, in millions of persons, for the years 1900 2013. as provided by the I.S. Census Beret.

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Given equation is,

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