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Unformatted text preview: 7 days of data consisting of daily grocery store sales (in thousands of dollars) and advertising
expenditures (in thousands of dollars). The Excel/MegaStat output given above summarizes
the results of the regression model.
What are the limits of the 95% confidence interval for the population slope?
A. 5.00 to 8.333
B. 2.667 to 10.667
C. 4.096 to 9.238
D. 2.382 to 10.952
E. 3.308 to 10.025 AACSB: Analytic
Bloom's: Application
Difficulty: Medium
Learning Objective: 4
Topic: Significance of the slope 11219 Chapter 01  An Introduction to Business Statistics 51. 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/MegaStat output given above summarizes
the results of the regression model.
In testing the population for significance at a significance level of .05, what is the rejection
point condition for the twosided test?
A. Reject H0 if t > 2.571
B. Reject H0 if t > 2.571
C. Reject H0 if t < 2.571
D. Reject H0 if t > 2.051
E. Reject H0 if t > 2.051 AACSB: Analytic
Bloom's: Application
Difficulty: Medium
Learning Objective: 4
Topic: Simple Linear Regression 11220 Chapter 01  An Introduction to Business Statistics 52. 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/MegaStat output given above summarizes
the results of the regression model.
In testing the simple linear regression equation for significance at a significance level of .05,
what is the rejection point condition?
A. Reject H0 if F > 16.26
B. Reject H0 if F > 10.01
C. Reject H0 if F > 6.61
D. Reject H0 if F > 230.2
E. Reject H0 if F > 5.79 AACSB: Analytic
Bloom's: Application
Difficulty: Medium
Learning Objective: 8
Topic: Simple Linear Regression 11221 Chapter 01  An Introduction to Business Statistics 53. 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/MegaStat output given above summarizes
the results of the regression model.
If the manager decides to spend $3000 on advertising, based on the simple linear regression
results given above, the estimated sales are:
A. $68,333
B. $20,063.33
C. $83,333
D. $20,064,333
E. $70,000 AACSB: Analytic
Bloom's: Application
Difficulty: Medium
Learning Objective: 4
Topic: Simple Linear Regression 11222 Chapter 01  An Introduction to Business Statistics 54. 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/MegaStat output given above summarizes
the results of the regression model.
What are the limits of the 99% prediction interval of the daily sales in dollars of an individual
grocery store that has spent $3000 on advertising expenditures? The distance value for this
particular prediction is reported as .164.
A. $64,496 to $102.170
B. $33,108 to $133,558
C. $71,324 to $95,342
D. $51,314 to $115,353
E. $42,851 to $83,816 AACSB: Analytic
Bloom's: Application
Difficulty: Hard
Learning Objective: 5
Topic: Confidence & prediction intervals 11223 Chapter 01  An Introduction to Business Statistics 55. 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/MegaStat output given above summarizes
the results of the regression model.
Determine a 95% confidence interval estimate of the daily average store sales based on $3000
advertising expenditures? The distance value for this particular prediction is reported as .164.
A. $64,496 to $102.170
B. $33,108 to $133,558
C. $71,324 to $95,342
D. $51,314 to $115,353
E. $42,851 to $83,816 AACSB: Analytic
Bloom's: Application
Difficulty: Hard
Learning Objective: 5
Topic: Confidence & prediction intervals 11224 Chapter 01  An Introduction to Business Statistics 56. The simple linear regression (lea...
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This document was uploaded on 01/20/2014.
 Winter '14

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