ECO6416- Transcript of live chat

# ECO6416- Transcript of live chat - ECO-6416 Exam 1 Live...

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ECO-6416 Exam 1 Live Chat Transcripts (use with Exam 1 Review guide) 9:15 PM: Dr. Soskin: Welcome all. I'm sitting here with my seafood salad and arugula sandwich on rye and a glass of iced tea (not sweet). So ready for questions. 9:16 PM: Avila Oriana: In the minitab output what does S= mean? 9:17 PM: McCracken Brittany: Dr. Soskin, on the practice exam #48, how do you determine the answer? 9:17 PM: Dr. Soskin: that's SEE 9:17 PM: Avila Oriana: ohhhh thanks! 9:18 PM: Dr. Soskin: January is the default reference 9:18 PM: Dr. Soskin: and Dec is 9:18 PM: Dr. Soskin: -12 for its coef 9:18 PM: Dr. Soskin: so that says that 9:18 PM: Dr. Soskin: Dec has Occupancy rate of 12 percentage points below Jan 9:19 PM: McCracken Brittany: the highlighted answer says +12, why is it positive? 9:19 PM: Agudelo Gabriel: In the Analysis of Variance portion of the Minitab output, what exactly does MSE represent? 9:19 PM: Dr. Soskin: Thus, if you were to make Dec the default (i.e., remove it and replace it with Jan) 9:20 PM: Dr. Soskin: then coef of Jan would have to be +12 to say the exact same thing 9:20 PM: Nersisyan Artsveni: so the coefficient will be the same with the opposite sign? 9:20 PM: Dr. Soskin: Yes, just like when we switched from Female to Male in class 9:20 PM: Dr. Soskin: the coef went from -4 to +4 9:21 PM: Nersisyan Artsveni: ok 9:21 PM: Suffoletto Laura: Since a lot of the correct answers on the practice test are "approximate", how far do you round before you choose "none of these"? 9:21 PM: Dr. Soskin: except in this case, all the coefs would change by 12 for the month dummies 9:21 PM: Dr. Soskin: and so would the intercept (good thing I didn't ask that) 9:22 PM: Nersisyan Artsveni: in Exam 1 number 21 Admit% depends on one variable, why is the equation multivariant? 9:22 PM: Dr. Soskin: Round to the number of zeros at the end of all your answer choices. 9:23 PM: Agudelo Gabriel: in the Analysis of Variance portion of the minitab output, what

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exactly does MSE represent/stand for? 9:23 PM: Dr. Soskin: If your options are all rounded to the nearest hundred, you can tell by them all ending in two zeros (e.g., 500, 600, . ..) 9:23 PM: McCracken Brittany: How do you get the answer 8 for number 49? Do you count all of the categories and subtract 1 less for every categorical variable? 9:24 PM: Dr. Soskin: Number 21 is a highlighting typo: obviously simple regression, not multiple 9:24 PM: Dr. Soskin: MSE in the analysis of variance table 9:24 PM: Dr. Soskin: is the average squared error 9:25 PM: Dr. Soskin: #49 is 8 because 9:25 PM: Machado Maria: How about 49? 9:25 PM: Dr. Soskin: you have 4 sets of categories 9:25 PM: Dr. Soskin: of 3, 2, 4, and 4 9:26 PM: Suffoletto Laura: On in class exercise 1, how do you get 3.36 in the time on the market equation? Isn't it (max-min)/n? 9:26 PM: Dr. Soskin: oops, I meant 3,2,3,4
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## This note was uploaded on 09/21/2011 for the course ECO 6416 taught by Professor Staff during the Spring '08 term at University of Central Florida.

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ECO6416- Transcript of live chat - ECO-6416 Exam 1 Live...

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