If an estimated regression explains none of the variation, R2 will be
A) 0.
B) between 0 and 1.
C) 1.
D) unable to determine with the information given.
A
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The commercial banking system has excess reserves of $200,000. Then new loans of $800,000 are subsequently made, and the system ends up just meeting its reserve requirements. The required reserve ratio must be
A. 30%. B. 10%. C. 25%. D. 20%.
If scarcity didn't exist, neither would
A) rationing devices. B) competition. C) labor. D) capital. E) a and b
Which of the following federal agencies is NOT engaged in social regulation?
A) Environmental Protection Agency B) Federal Trade Commission C) Food and Drug Administration D) Federal Deposit Insurance Corporation
To calculate the price elasticity of demand, we divide
A) the percentage change in quantity demanded by the percentage change in price. B) the percentage change in price by the percentage change in quantity demanded. C) rise by the run. D) the average price by the average quantity demanded.