The coefficient of determination (R2) decreases when an independent variable is added to a multiple regression model.
Answer the following statement true (T) or false (F)
False
Rationale: FEEDBACK: The coefficient of determination (R2) never decreases when an independent variable is added to a multiple regression model.
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The figure above shows Ronald's budget line. He has a weekly income of $20 and he spends it on hot dogs and hamburgers. The relative price of a hamburger is ________
A) 1/2 hot dog B) 5 hot dogs C) $20 D) 2 hot dogs
The figure above shows the marginal revenue and costs of a perfectly competitive firm. The marginal cost of the last unit produced is
A) $4 per unit. B) $8 per unit. C) $16 per unit. D) None of the above answers is correct.
For the United States, suppose the value of exported goods is greater than the value of imported goods. This implies that
A) the domestic currency will depreciate. B) the dollar price of foreign currency will increase. C) the country is running a deficit in its balance of trade. D) the country is running a surplus in its balance of trade.
The inclusion of external costs in the decision making process determining equilibrium price and quantity leads to
A) lower priced items and increased quantity. B) lower priced items and a decline in quantity. C) higher priced items and increased quantity. D) higher priced items and a decline in quantity.