ECO 6416-Exam 1 Review

# ECO 6416-Exam 1 Review - ECO 6416 EXAM#1 Review Multiple...

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ECO 6416 EXAM #1 Review Multiple Choice Place answers on Scantron form. Write in this booklet instead of scratch paper. Put name at top. Answer the next nine questions from the following case: By fitting membership with alumni total for n = 48 months, the Alumni Association at UCF wants to better understand how membership numbers behave. The variables are defined as: Members Alumni member of UCF’s Alumni Association each month Alumni Total number of UCF alumni each month The regression equation is Member = - 1538 + 0.111 Alumni Predictor Coef SE Coef T P Constant -1538.3 459.7 -3.35 0.002 Alumni 0.111174 0.003495 31.81 0.000 S = 301.2 R-Sq = 95.7% R-Sq(adj) = 95.6% Analysis of Variance Source DF SS MS F P Regression 1 91806614 91806614 1012.12 0.000 Residual Error 46 4172553 90708 Total 47 95979167 1. The correlation between membership and total alumni is approximately a. 0.92 b. 9.2 c. 0.98 d. 9.8 e. Cannot be determined from the above output 2. Which of the following statements is NOT correct, based on the information above? rate is +0.111 3. When UCF alumni totals reach 200,000, forecast the approximate membership in the Alumni Association. 4. A 25,000 increase in the number of alumni is expected to increase membership by approximately how much? information provided The preceding regression is criticized for omitting job conditions with may deter alums from becoming members: FL Un% Florida unemployment rate (in percentage points) The regression equation is Member = 265 + 0.102 Alumni - 144 FL Un% S = 299.6 R-Sq = 95.8% R-Sq(adj) = 95.6% Analysis of Variance

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Source DF SS MS F P Regression 2 91940014 45970007 512.15 0.000 Residual Error 45 4039152 89759 Total 47 95979167 5. Which of the following describes the data set and equation? a. This data set consists of time series data and the equation is a multivariate regression equation b. This data set consists of cross section data and the equation is a multivariate regression equation c. This data set consists of time series data and the equation is a simple regression equation d. This data set consists of cross section data and the equation is a simple regression equation e. Not enough information provided to determine the data set and equation type.
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