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MGT 6203 UPDATED Questions and CORRECT Answers
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How does the skew of a distribution affect its median relative to its mean? - Left skewed -> mean < median No skew -> mean = median Right skew -> mean > median Define correlation coefficient - Correlation coefficient captures strength of linear relationships Define total deviation, explained deviation, and unexplained deviation for OLS linear regression problem. - Total deviation: difference between observation and mean Explained deviation: difference between predicted value and mean Unexplained deviation/ error/residual: difference between predicted value and observed value
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