Goodness of fit predicted values is also known as
A. coefficient of determination
B. coefficient of index
C. coefficient of residual
D. coefficient of prediction
Answer: Option A
Solution(By Examveda Team)
Goodness of fit predicted values is also known as coefficient of determination. The coefficient of determination (denoted by R2) is a key output of regression analysis. It is interpreted as the proportion of the variance in the dependent variable that is predictable from the independent variable.Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
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