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Unformatted text preview: e coefficient of determination?
A. 11.547
B. .762
C. .873
D. 6.6667
E. 1.6667 11153 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
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 11154 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 11155 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 11156 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 11157 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 11158 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 56. The simple linear regression (least squares method) minimizes:
A. The explained variation
B. SSyy
C. Total variation
D. SSxx
E. SSE 11159 Chapter 01  An Introduction to Business Statistics 57. The coefficient of determination measures the ________ explained by the simple linear
regression model.
A. Correlation
B. Proportion of variation
C. Standard error
D. Mean square error 58. The __________ assumption requires that all variation around the regression lin...
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