Question 7. The estimated goodness of fit of the regression is R2 = 0.5. According to the regression output, we can infer that: (a) The correlation between Log of Wage yi and its fitted values yˆi is −0.5 (b) The correlation between Log of Wage yi and its fitted values yˆi is 0.5 (c) The correlation between Log of Wage yi and its fitted values yˆi is + √0.5  (d) The correlation between Log of Wage yi and its fitted values yˆi is − 0.5 (e) The correlation between Log of Wage yi and its fitted values yˆi is 0.5^2

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.8: Fitting Exponential Models To Data
Problem 1TI: Table 2 shows a recent graduate’s credit card balance each month after graduation. a. Use...
Question

Question 7. The estimated goodness of fit of the regression is R2 = 0.5. According to the regression output, we can infer that:

(a) The correlation between Log of Wage yi and its fitted values yˆi is −0.5

(b) The correlation between Log of Wage yi and its fitted values yˆi is 0.5

(c) The correlation between Log of Wage yi and its fitted values yˆi is + √0.5 

(d) The correlation between Log of Wage yi and its fitted values yˆi is − 0.5

(e) The correlation between Log of Wage yi and its fitted values yˆi is 0.5^2

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