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Excel , 3/e
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Book's Title: Statistics for Managers Using Microsoft
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Excel
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Book's Author: Levine
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Location on Home > Simple Linear Regression >
Site: Multiple Choice
Date/Time October 31, 2022 at 1:18 PM (UTC/GMT)
Submitted:
1. The Y intercept (b0) represents the:
Your Answer: predicted value of Y.
Correct Answer: predicted value of Y when X = 0.
INCORRECT. Refer to Example 11.1.
2. The slope (b1) represents:
Your Answer: variation around the line of regression.
Correct Answer: the estimated change in average Y per unit change in X.
INCORRECT. Refer to Example 11.1.
3. The least squares method (OLS) minimizes which of the following?
Your Answer: All of the above.
Correct Answer: SSE
INCORRECT. Refer to the section on "The Least-Squares Method."
4. The standard error of the estimate is a measure of:
Your Answer: the variation of the X variable.
Correct Answer: the variation around the regression line.
INCORRECT. Refer to the section on "Standard Error of the Estimate."
5. The coefficient of determination tells us:
Your Answer: that we should not partition the total variation.
Correct Answer: the proportion of total variation that is explained.
INCORRECT. Refer to the section on "The Coefficient of Determination."
6. The residuals represent:
Your Answer: the predicted value of Y for the average X value.
Correct Answer: the difference between the actual Y values and the predicted Y values.
INCORRECT. Refer to Equation 11.9.
7. If the plot of residuals is fan-shaped, which assumption is violated?
Your Answer: Homoscedasticity.
CORRECT. Refer to the section on "Homoscedasticity."
8. The strength of the linear relationship between two numerical variables may be measured
by the:
Your Answer: Y intercept. Refer to the section on "t Test for a Correlation
Coefficient."
Correct Answer: correlation coefficient. Refer to the section on "t Test for a Correlation
Coefficient."
INCORRECT.
9. In a simple linear regression problem, r and b1:
Your Answer: are equal.
Correct Answer: must have the same sign.
INCORRECT. When X and Y are positively correlated, the slope of the least squares
regression line b1 has to be positive and vice versa.
10. Assuming a linear relationship between X and Y, if the coefficient of correlation (r) equals
-0.30:
Your Answer: the variance of X is negative.
Correct Answer: the slope (b1) is negative.
INCORRECT. Refer to the section on "t Test for a Correlation Coefficient."
11.
TABLE 11-1
A candy bar manufacturer is interested in trying to estimate how sales are influenced
by the price of their product. To do this, the company randomly chooses 6 small cities
and offers the candy bar at different prices. Using candy bar sales as the dependent
variable, the company will conduct a simple linear regression on the data below:
City Price ($) Sales
River 1.30 100
Falls
Hudson 1.60 90
Ellsworth 1.80 90
Prescott 2.00 40
Rock Elm 2.40 38
Stillwater 2.90 32
Referring to TABLE 11-1, what is the estimated slope parameter for the candy bar price
and sales data?
Your Answer: - 48.193
CORRECT. Use PHStat, Minitab, or Equation 11.18.
12. Referring to TABLE 11-1, what is the percentage of the total variation in candy bar sales
explained by the regression model?
Your Answer: 48.19%
Correct Answer: 78.39%
INCORRECT. Use Equation 11.7.
13. Referring to TABLE 11-1, what is the standard error of the estimate, SYX, for the data?
Your Answer: 0.784
Correct Answer: 16.299
INCORRECT. Use PHStat, Minitab, or Equation 11.8.
14. Referring to TABLE 11-1, what is the standard error of the regression slope estimate, Sb1?
Your Answer: 0.784
Correct Answer: 12.650
INCORRECT. Use PHStat, Minitab, or Equation 11.11.
15. Referring to TABLE 11-1, to test that the regression coefficient, b1, is not equal to 0, what
would be the limits of the rejection region for b1? Use a = 0.05.
Your Answer: - 48.193 ± 2.776
Correct Answer: 0 ± 35.117
INCORRECT. Refer to Equation 11.11.
16. Referring to TABLE 11-1, if the price of the candy bar is set at $2, the estimated average
sales will be:
Your Answer: 100
Correct Answer: 65
INCORRECT. Use PHStat, Minitab, or Equation 11.2.
17. Referring to TABLE 11-1, if the price of the candy bar is set at $2, the predicted sales will
be:
Your Answer: 100
Correct Answer: 65
INCORRECT. Use PHStat, Minitab, or Equation 11.2.
18. The width of the confidence interval estimate for the predicted value of Y is dependent on:
Your Answer: the standard error of the estimate.
Correct Answer: All of the above.
INCORRECT. Refer to Equation 11.16.
19. Interpret the value of SYX = 65 in a simple linear regression.
Your Answer: For every one unit increase in X, we expect Y to increase by an
estimated amount of 65.
Correct Answer: About 95% of the observed Y values fall within 130 of the least
squares line.
INCORRECT. Refer to the discussion after Equation 11.8.
20. A 95% confidence interval for b1 is (15,30). Interpret the interval.
Your Answer: We are 95% confident that the X value will increase by between 15
and 30 units for every one unit increase in Y.
Correct Answer: We are 95% confident that average value of Y will increase by
between 15 and 30 units for every one unit increase in X.
INCORRECT. Refer to the section on "Confidence Interval Estimate of the Slope."
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