Suppose each unit sold results in a profit of $100. How much profit are you expected to
earn
per contact
? (Think about what the profit equation is for any business scenario.)
Use proper units.
ANS_______3500$_______
___
TF/MC.
IN ORDER TO LEARN THE MOST FROM THIS ASSIGNMENT AND PREPARE FOR THE
MIDTERM, IF YOU ARE HAVING PROBLEMS WITH ANY OF THESE QUESTIONS BELOW,
PLEASE REVIEW YOUR LECTURE NOTES FIRST, BEFORE ASKING SOMEONE ELSE. ALL
THE INFO YOU NEED IS IN YOUR NOTES FOR THESE QUESTIONS.
IF YOU ARE STILL
STUCK PLEASE ASK YOUR TA OR LECTURER FOR HELP.
4.
If the residual plot shows a perfect straight line (not horizontal) then the regression line
fits the data well.
a.
TRUE
b. FALSE
5.
Any point with a large residual is an influential point.
a.
TRUE
b. FALSE
6.
If you switch X and Y the slope of the regression line stays the same.
a.
TRUE
b. FALSE
7.
If the correlation between X and Y is one, then the slope of the regression line must be
one.
a.
TRUE
b. FALSE
8.
Rsquared (r
2
) is the percentage of the time that the data points lie on the regression
line.
a.
TRUE
b. FALSE
9.
To find the correlation between X and Y, you can just take the square root of Rsquared.
a.
TRUE
b. FALSE
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View Full Document10. The equation of the regression line is resistant to outliers.
a.
TRUE
b. FALSE
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 Spring '07
 rumseyjohnson
 Statistics, Regression Analysis, regression line

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