Which is NOT a good practice for choosing a model? Select one: a. Considering theories, expert opinions, or prior knowledge on the model b. Checking residual plots c. Checking the outliers of the model d. Selective reporting of a finally chosen “significant” model
Which is NOT a good practice for choosing a model? Select one: a. Considering theories, expert opinions, or prior knowledge on the model b. Checking residual plots c. Checking the outliers of the model d. Selective reporting of a finally chosen “significant” model
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter5: Business And Economic Forecasting
Section: Chapter Questions
Problem 1E: The forecasting staff for the Prizer Corporation has developed a model to predict sales of its...
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q13b-
Which is NOT a good practice for choosing a model?
Select one:
a.
Considering theories, expert opinions, or prior knowledge on the model
b.
Checking residual plots
c.
Checking the outliers of the model
d.
Selective reporting of a finally chosen “significant” model
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