PRMIA Exam 8007 Topic 1 Question 66 Discussion

Actual exam question for PRMIA's 8007 exam

Question #: 66
Topic #: 1

[All 8007 Questions]

Which of the following can be used to evaluate a regression model?

(i) Magnitude of R2

(ii) Magnitude of TSS (total sum of squares)

(iii) Tests for statistical significance

(iv) Sign and magnitude of each regression parameter

A(i) and (iv)

B(i), (ii), and (iii)

C(i), (iii), and (iv)

D(i), (ii), (iii), and (iv)

Show Suggested Answer

Suggested Answer: C

by Xuan at Feb 13, 2024, 03:14 AM

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Geraldo

5 months ago

So, we are still debating between B) and C) as the potential answers for this question.

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Grover

5 months ago

I see your point, it makes sense to consider all those factors when evaluating a regression model.

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Carlton

5 months ago

I think including TSS in the evaluation is important, so the answer should be B) (i), (ii), and (iii).

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Dominque

5 months ago

But what about TSS, shouldn't we also consider that in our evaluation?

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Elvera

5 months ago

I agree, those factors are important in evaluating a regression model.

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Nelida

6 months ago

I think the answer is C), because we need to consider the magnitude of R^2, test for statistical significance, and the sign and magnitude of each regression parameter.

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Ronny

6 months ago

So, should we go with option C then? It includes the magnitude of R2, tests for statistical significance, and the sign and magnitude of each regression parameter.

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