E2B - EXAM TWO BUS 310 B NAME A few scenarios follow which...

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1 EXAM TWO BUS 310 B NAME A few scenarios follow which require you to choose an appropriate term. To refresh your memory some of the terms that you have used include: A. Intercept B. Slope C. Predicted Y D. VIF E. Scatter Diagram F. Correlation G. R-Squared H. Adjusted R-Squared I. Standard Error J. P-values K. Aptness of Fit (Linearity) L. Assumption of Constant Variability M. Assumption of Normality N. Normal P-Plot O. Assumption of Independence P. Durbin-Watson Statistic Q. Relevant range R. Outlier(s) S. Curvilinear Regression T. Dummy Variable Regression U. Multicollinearity V. Interaction W. Stepwise Regression You are working on a regression study and you have the following situations in which you need use your expertise in statistics. For each of the next questions, choose the most appropriate term above that best fits the situation. Choose only one and write the letter in the space provided below the question. -------------------------------------------------------------- Data is available as listed below on several financial and demographic variables for households sampled from a large city in the Western United States. INCOME1 Principal wage earner income ($) FAMLSIZE Family size OWNORENT 1 = own home, 0 = rent home TOTLDEBT Total debt (excluding home mortgage) ($) HPAYRENT Home mortgage payment or rent ($) LOCATION Location of residence (NE=1, NW=2, SW=3, SE=4) TOTINC Total family income 1. You notice that for many of your residual plots that there seem to be many small negative errors and fewer positive errors that are quite large. What would you use to check on the problem that these kinds of plots suggest? 2. You have several independent variables that all seem to be highly correlated with each other. What is the name of the problem that this fact suggests? 3. You have used PHStat’s Multiple Regression option and you wish to describe to someone what percentage of variability in the dependent variable is explained by your equation. What would you choose? 4. You wish to find out how much Total Debt (described above) changes as income changes. What would you look at? 5. You wish to look at a graph that describes the relationship between two numerical variables, Total Debt and Income. What is a graph like this called?
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2 We have covered various tests and confidence intervals and many of these are listed below. Read the following short scenarios and pick the test or confidence interval that best meets the objective in the
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This note was uploaded on 04/08/2011 for the course BUS 310 taught by Professor Abou-sayf,f during the Spring '08 term at University of Hawaii, Manoa.

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E2B - EXAM TWO BUS 310 B NAME A few scenarios follow which...

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