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In simple regression analysis if the correlation

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Unformatted text preview: based on Model 1. C. There is no difference in the predictive ability between Model 1 and Model 2. D. There is not sufficient information to determine which of the two models is superior for prediction purposes. AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Learning Objective: 6 Topic: Coefficient of determination 44. For a given data set, specific value of X, and a confidence level, if all the other factors are constant, the confidence interval for the mean value of Y will _______ be wider than the corresponding prediction interval for the individual value of Y. A. Always B. Sometimes C. Never AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Learning Objective: 5 Topic: Confidence & prediction intervals 1-1214 Chapter 01 - An Introduction to Business Statistics 45. The strength of the relationship between two quantitative variables can be measured by: A. The slope of a simple linear regression equation B. The Y intercept of the simple linear regression equation C. The coefficient of correlation D. The coefficient of determination E. Both C and D above AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Learning Objective: 6 Topic: Correlation 46. After plotting the data point s on a scatter diagram, we have observed an inverse relationship between the independent variable (X) and the dependent variable (Y). Therefore, we can expect both the sample _____ and the sample _____________ to be negative values. A. Intercept, slope B. Slope, coefficient of determination C. Intercept, correlation coefficient D. Slope, correlation coefficient E. Slope, standard error of estimate AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Learning Objective: 6 Topic: Correlation 1-1215 Chapter 01 - An Introduction to Business Statistics 47. Regression Analysis The local grocery store wants to predict the daily sales in dollars. The manager believes that the amount of newspaper advertising significantly affects the store sales. He randomly selects 7 days of data consisting of daily grocery store sales (in thousands of dollars) and advertising expenditures (in thousands of dollars). The Excel/Mega-Stat output given above summarizes the results of the regression model. What is the estimated simple linear regression equation? A. = 7.9682 + 1.667 X B. = 63.333 + 6.667 X C. D. = 7.948 + 4.000 X = 11.547 + 1.667 X E. = 6.667 + 63.333 X AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Learning Objective: 4 Topic: Simple Linear Regression 1-1216 Chapter 01 - An Introduction to Business Statistics 48. Regression Analysis The local grocery store wants to predict the daily sales in dollars. The manager believes that the amount of newspaper advertising significantly affects the store sales. He randomly selects 7 days of data consisting of daily grocery store sales (in thousands of dollars) and advertising expenditures (in thousands of dollars). The Excel/Mega-Stat output given above summarizes the results of the regression model. At a significance level of .05, test the significance of the slope and state your conclusion. A. We reject H0 and conclude there is sufficient evidence that dollars spent on advertising is a useful linear predictor of the grocery store sales. B. We failed to reject H0 and conclude there is not sufficient evidence that dollars spent on advertising is a useful linear predictor of the grocery store sales. C. We failed to reject H0 and conclude there is sufficient evidence that dollars spent on advertising is a useful linear predictor of the grocery store sales. D. We reject H0 and conclude that there is sufficient evidence that grocery store sales in dollars is a useful linear predictor of the dollars spent on advertising. E. We reject H0 and conclude that there is not sufficient evidence that dollars spent on advertising is a useful linear predictor of the grocery store sales. AACSB: Analytic Bloom's: Analysis Difficulty: Medium Learning Objective: 4 Topic: Simple Linear Regression 1-1217 Chapter 01 - An Introduction to Business Statistics 49. Regression Analysis The local grocery store wants to predict the daily sales in dollars. The manager believes that the amount of newspaper advertising significantly affects the store sales. He randomly selects 7 days of data consisting of daily grocery store sales (in thousands of dollars) and advertising expenditures (in thousands of dollars). The Excel/Mega-Stat output given above summarizes the results of the regression model. What is the value of the simple coefficient of determination? A. 11.547 B. .762 C. .873 D. 6.6667 E. 1.6667 AACSB: Analytic Bloom's: Application Difficulty: Easy Learning Objective: 6 Topic: Coefficient of determination 1-1218 Chapter 01 - An Introduction to Business Statistics 50. Regression Analysis The local grocery store wants to predict the daily sales in dollars. The manager believes that the amount of newspaper advertising significantly affects the store sales. He randomly selects...
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