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Hint for the MC questions. Do not use "None of the above" as your answer very often. No more than twice at most. Regression analysis is a statistical...

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Hint for the MC questions. Do not use “None of the above” as your answer very often. No more than twice at most. 1. Regression analysis is a statistical procedure for developing a mathematical equation that describes how a. one independent and one or more dependent variables are related b. several independent and several dependent variables are related c. one dependent and one or more independent variables are related d. None of the above answers is correct. 2. Application of the least squares method results in values of the y intercept and the slope that minimizes the sum of the squared deviations between the a. observed values of the independent variable and the estimated values of the independent variable b. actual values of the independent variable and estimated values of the dependent variable c. observed values of the dependent variable and the estimated values of the dependent variable d. None of the above answers is correct. 3. A regression analysis between sales (Y in $1000) and advertising (X in dollars) resulted in the following equation = 50,000 + 6 X The above equation implies that an a. increase of $6 in advertising is associated with an increase of $6,000 in sales b. increase of $1 in advertising is associated with an increase of $6 in sales c. increase of $1 in advertising is associated with an increase of $56,000 in sales d. increase of $1 in advertising is associated with an increase of $6,000 in sales e. None of the above answers is correct. 4. Larger values of r 2 imply that the observations are more closely grouped about the a. average value of the independent variables b. average value of the dependent variable c. least squares line d. origin e. None of the above answers is correct. 5. In a regression and correlation analysis if r 2 = 1, then SSE (the sum of squares error) a. SSE must also be equal to one b. SSE must be equal to zero c. SSE can be any positive value d. SSE must be negative e. None of the above answers is correct.
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6. Regression analysis was applied between sales (in $1,000) and advertising (in $100), and the following regression function was obtained. = 80 + 6.2 X Based on the above estimated regression line, if advertising is $10,000, then the point estimate for sales (in dollars) is a. $62,080 b. $142,000 c. $700 d. $700,000 e. None of the above answers is correct. 7. If the coefficient of correlation is 0.8, the percentage of variation in the dependent variable explained by the variation in the independent variable is a. 0.80% b. 80% c. 0.64% d. 64% e. None of the above answers is correct. 8. In regression analysis if the dependent variable is measured in dollars, the independent variable a. must also be in dollars b. must be in some unit of currency c. can be any units d. can not be in dollars e. None of the above answers is correct. 9. If the correlation coefficient is a positive value, the slope of the regression line a. must also be positive b. can be either negative or positive c. can be zero d. None of the above answers is correct. 10. A goodness of fit test is always conducted as a a. lower-tail test b. upper-tail test c. either a or b d. None of the above answers is correct.
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Hint for the MC questions. Do not use “None of the above” as your answer very often. No
more than twice at most.
1.
Regression analysis is a statistical procedure for developing a mathematical...

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