chp 3 test bank

# chp 3 test bank - CHAPTER 3STATISTICAL ANALYSIS OF ECONOMIC...

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CHAPTER 3—STATISTICAL ANALYSIS OF ECONOMIC RELATIONS MULTIPLE CHOICE 1. Generally speaking, population parameters are not known and must be estimated by the sample: a. mean. b. mode. c. median. d. statistics. ANS: D 2. A multiple regression model involves two or more: a. Y variables. b. X variables. c. intercept terms. d. data points. ANS: B 3. When no scatter about the regression line exists: a. SEE = 0 b. R 2 = 0 c. t = 0 d. F = 0 ANS: A 4. High correlation among X variables leads to: a. multicollinearity. b. high R 2 . c. low R 2 . d. high t statistics. ANS: A 5. Statistics are: a. descriptive measures for a sample. b. summary measures for the population. c. predetermined variables. d. endogenous variables. ANS: A 6. The "middle" observation is the: a. median. b. average. c. mean. d. mode. ANS: A 7. A relation known with certainty is called a: a. statistical relation.

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b. multiple regression. c. deterministic relation. d. simple regression. ANS: C 8. The standard deviation of the dependent Y variable after controlling for all X variables is the: a. correlation coefficient. b. coefficient of determination. c. F statistic. d. standard error of the estimate. ANS: D 9. Statistical analysis of economic relations focuses on the estimation and interpretation of: a. sample statistics. b. population parameters. c. summary measures. d. descriptive measures. ANS: A 10. In a symmetrical sample, the median observation equals the: a. variance. b. standard deviation. c. mean and the mode. d. number one. ANS: C 11. If the greater bulk of sample observations are found to the left of the sample mean, then the sample is said to be: a. skewed downward. b. skewed upward. c. skewed to the right. d. symmetrical. ANS: A 12. Central tendency is measured by the: a. range. b. variance. c. standard deviation. d. mode. ANS: D 13. In a uniform distribution, the mode: a. equals the median. b. is less than the mean. c. is less than the median. d. is greater than the mean. ANS: A 14. If a distribution is skewed downward, the median:
a. is greater than the mean. b. is less than the mean. c. is greater than the average. d. equals the mean. ANS: A 15. Relative dispersion is measured by the population: a. range. b. standard deviation. c. variance. d. coefficient of variation. ANS: D 16. Sample variance is the: a. square root of the average squared deviation from the sample mean. b. average squared deviation from the sample mean. c. average deviation from the sample mean. d. square root of the average deviation from the sample mean. ANS: B 17. When the variance is greater than one, the standard deviation is always: a. less than the coefficient of variation. b. greater than the coefficient of variation. c.

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## chp 3 test bank - CHAPTER 3STATISTICAL ANALYSIS OF ECONOMIC...

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