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Question 1
0.5 out of 0.5 points
Correct A regression analysis between demand (y in units of our good) and price (x in dollars) resulted in the following equatio
y = 9000 ¶ 3000x
The equation above implies that if the price is increased by $1, the demand is expected to
Question 1 answers
Selected Answer: Correct
decrease by 3,000 units.
Correct Answer: Correct
decrease by 3,000 units.
Feedback: Excellent job interpreting the equation.
Question 2 text
Question 2 0.5 out of 0.5 points
Correct In a regression analysis if r2 = 1, then
Question 2 answers
Selected Answer: Correct
SSE must be equal to zero.
Correct Answer: Correct
SSE must be equal to zero.
Feedback: Excellent job bringing this together to make the right conclusion.
Question 3 text
Question 3 0.5 out of 0.5 points
Correct A regression analysis between sales (in $) and price (in $) resulted in the following equation.
y = 50,000 :
8,000x
The above equation implies that an
Question 3 answers
Selected Answer: Correct
increase of $1 in price is associated with a decrease of $8,000 in sales.
Correct Answer: Correct
increase of $1 in price is associated with a decrease of $8,000 in sales.
Feedback: Excellent job interpreting the equation.
Question 4 text
Question 4 0.5 out of 0.5 points
Correct Regression analysis was applied between sales (in $) and advertising (in $), and the following regression function was
y = 500,000 + 40x
Based on the estimated regression line above, if advertising is $10,000, then the point estimate for sales (in dollars) is
Question 4 answers
Selected Answer: Correct
$900,000.
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 Spring '10
 FLYNN
 Least Squares, Regression Analysis, Correct Answer, Text Question

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