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Practice_Midterm

# Practice_Midterm - STAT 2607 Review Problems...

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STAT 2607 Review Problems Midterm (Solutions are attached to the end) 1. A Life Insurance Company manager believes that the number of weekly sales concluded by his salesmen can be predicted by the number of follow-up phone calls they make to their clients. He collected the following data on 20 salesmen. Calls: 66 43 57 32 18 59 61 32 48 39 58 54 48 37 29 21 43 62 51 44 Sales: 20 15 18 12 2 21 18 8 14 12 17 16 13 9 9 5 12 18 17 14 where a) What is the response variable in this problem? What is the explanatory (predictor) variable? b) State the simple linear regression model for this problem, and give all the other assumptions needed for a complete regression analysis. c) Find the least squares fitted line. Which of the assumptions in (b), if any, are required for this step? d) Give the interpretation of b 0 and b 1 for this problem . e) Why would it not be appropriate, in this problem, to say that b 0 estimates the average value of Y when X equals 0? f) What does it mean when we say that b 1 is an unbiased estimator of ? Which of the assumptions given in (b) are needed for this to be true? Assuming that the SLR model hypothesized in (b) holds with no violation of the assumptions g) Set up the ANOVA table. h) Test whether there is a significant linear relationship between sales and follow-up phone calls. Use the F-test with = .01. α i) What is the estimated average increase in weekly sales for each extra follow-up phone call?

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Practice_Midterm - STAT 2607 Review Problems...

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