Basically in a research project I am looking at the linear regression between my independent variable: Government Stringency Index, and dependent real GDP growth.
One area I investigate assumes if real GDP growth is more precisely measured, switching my variables in linear regression; to x on y linear regression; would associate the error with my independent variable (which is presumably less accurate).
My question is: After doing this, what statistical tests could I use to determine which is a better fit for my model?
r,r^2 are of course the same. Visually the best fit line in x on y appears to be worse.