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Read the following statements and choose the correct option:
Statement 1: Overfit models explain fully explain variation in dependent variable.
Statement 2: Overfit models have high bias error due to higher number of independent variables.
Statement 3: m-fold cross-validation is one way to deal with bias-variance error tradeoff
Statement 4: general-to-specific model involves starting with largest model and dropping variables with lowest t-statistic.
= Statement 2 is incorrect ( this should be the answer)
Location: Quiz Reading 09 Regression Diagnostics
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