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Question 16 The error term ε in a regression model represents o a. a random error in the data. o b.unsystematic variation inQuestion 14 Which of the following best describes the relationship between cost and accuracy in forecasting? a. low cost methQuestion 13 On average, the differences between the actual and predicted values of Y o a. are equal to bo o b.sum to an unkno

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Answer #1

the correct option is

The error term e in a regression model represents

A random error in the data.

Which of the following best describes the relationship between cost and accuracy in forecasting?

there is a trade-off between cost and accuracy

On average, the differences between the actual and predicted values of Y

sum to zero

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