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? a. This is time series analysis b. This is simple regression c. The monthly trend rate is +0.111 d. Membership increases an average of about 11 member for each 100 new alumni UCF graduates e. All of the above statements are correct 3. When UCF alumni totals reach 200,000, forecast the approximate membership in the Alumni Association. a. 15,000 b. 18,000 c. 21,000 d. 24,000 e. None of these 4. A 25,000 increase in the number of alumni is expected to increase membership by approximately how much? a. 2800 b. 3200 c. 3600 d. None of these e. Cannot be determined from 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. 6. If the number of alumni doesn’t change, a 5 point rise in unemployment will make membership approximately a. 500 lower b. 500 higher c. 700 lower d. 700 higher e. none of these 7. The membership when there are 150,000 alumni and 10 percent (FL Un% = 10) unemployment is approximately a. 8,000 b. 10,000 c. 12,000 d. 14,000 e. none of these 8. To be right 95% of the time, margin of error for the prediction in previous question is plus or
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ECO 6416-Exam 1 Review - ECO 6416 EXAM #1 Review Multiple...

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