1
EXAM TWO
BUS 310
B
Answer
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. RSquared
H. Adjusted RSquared
I.
Standard Error
J.
Pvalues
K. Aptness of Fit (Linearity)
L. Assumption of Constant Variability
M. Assumption of Normality
N. Normal PPlot
O. Assumption of Independence
P. DurbinWatson 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?
N
U
G
B
E
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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
scenarios that follow.
Choose only one and write the number in the space provided below the
question.
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 Spring '08
 Abousayf,F
 Normal Distribution, Regression Analysis, Statistical hypothesis testing, total debt, Total family income

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