Estimate a regression model to predict weekly expenditures

Reference no: EM13156201

suppose you estimate a regression model to predict weekly expenditures on food per person. Would you be pleased if your model estimate a Standard Error =$300 EXPLAIN?

suppose you estimated a regression model to predict annual federal tax revenues. Would Suppose you be please if your model yielded an estimated standard error=$3 million. Explain?

Suppose you want to forecast the population of California for the next year. Would you expect the mean absolute forecast error to be large or smaller than 5000?Would you expect the mean absolute forecast percentage error to be > or < .25. Explain.

Reference no: EM13156201

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