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Why does a regression model have an error term?

Why does a regression model have an error term?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Why does a regression model have an error term? a) The available data is collected using various methods; it's that inconsistency that introduces variation. b) The available data is only a sample of the population, so there is always the opportunity for the sample to not represent the population. c) The mathematics is only estimating the relationship. d) This level of mathematics cannot provide sufficient accuracy. Graduate level studies will introduce more accurate modeling techniques.
Transcribed Image Text:Why does a regression model have an error term? a) The available data is collected using various methods; it's that inconsistency that introduces variation. b) The available data is only a sample of the population, so there is always the opportunity for the sample to not represent the population. c) The mathematics is only estimating the relationship. d) This level of mathematics cannot provide sufficient accuracy. Graduate level studies will introduce more accurate modeling techniques.
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