Exam 12: Simple Regression Analysis and Correlation

In the simple regression model, ŷ = 21 − 5x, if the coefficient of determination is 0.81, we can say that the coefficient of correlation between y and x is 0.90.

(True/False)

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Question 21

Abby Kratz, a market specialist at the market research firm of Saez, Sikes, and Spitz, is analyzing household budget data collected by her firm.Abby's dependent variable is monthly household expenditures on groceries (in $'s), and her independent variable is annual household income (in $1,000's).Regression analysis of the data yielded the following tables. $Abby Kratz, a market specialist at the market research firm of Saez, Sikes, and Spitz, is analyzing household budget data collected by her firm.Abby's dependent variable is monthly household expenditures on groceries (in Souros df SS MS F Regresssium 1 76850.99 16850.99 19.34446 Residual 9 7839.915 871.1017 Total 10 24690.91 =29.51448 =0.682478 For a household with $50,000 annual income, Abby's model predicts monthly grocery expenditures of ________________.s), and her independent variable is annual household income (in $1,000's).Regression analysis of the data yielded the following tables. \begin{array}{|c|c|c|c|c|} \hline \text { Souros } & \text { df } & \text { SS } & \text { MS } & F \\ \hline \text { Regresssium } & 1 & 76850.99 & 16850.99&19.34446 \\ \hline \text { Residual } & 9 & 7839.915 & 871.1017 & \\ \hline \text { Total } & 10 & 24690.91 & &\\ \hline \end{array} \begin{array} { | l | } \hline S _ { \mathrm { e} } = 29.51448 \\ \hline r ^ { 2 } = 0.682478 \\ \hline \end{array} For a household with $50,000 annual income, Abby's model predicts monthly grocery expenditures of .$ Souros df SS MS F Regresssium 1 76850.99 16850.99 19.34446 Residual 9 7839.915 871.1017 Total 10 24690.91 =29.51448 =0.682478 For a household with $50,000 annual income, Abby's model predicts monthly grocery expenditures of .

(Multiple Choice)

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Question 22

The difference between the actual y value and the predicted ŷ value found using a regression equation is called the residual.

(True/False)

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Question 23

The first step in simple regression analysis is usually to construct a scatter plot.

(True/False)

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Question 24

The slope of the regression line, ŷ = 21 − 5x, is 21.

(True/False)

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Question 25

A simple regression model developed for ten pairs of data resulted in a sum of squares of error, SSE = 125.The standard error of the estimate is _______.

(Multiple Choice)

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Question 26

Louis Katz, a cost accountant at Papalote Plastics, Inc.(PPI), is analyzing the manufacturing costs of a molded plastic telephone handset produced by PPI.Louis's independent variable is production lot size (in 1,000's of units), and his dependent variable is the total cost of the lot (in $100's).Regression analysis of the data yielded the following tables. $Louis Katz, a cost accountant at Papalote Plastics, Inc.(PPI), is analyzing the manufacturing costs of a molded plastic telephone handset produced by PPI.Louis's independent variable is production lot size (in 1,000's of units), and his dependent variable is the total cost of the lot (in $100's).Regression analysis of the data yielded the following tables. \begin{array}{|c|c|c|c|c|} \hline \text { Soures } & \text { df } & \text { SS } & \text { MS } & F \\ \hline \text { Regressiumm } & 1 & 9.858769 & 9.858768 & 12.22345 \\ \hline \text { Retidual } & 11 & 8.872 & 0.806545 & \\ \hline \text { Totel } & 12 & 78.73077 & &\\ \hline \end{array} \begin{array} { | c | } \hline S _ { 8 } = 0.898 \\ \hline r ^ { 2 } = 0.526341 \\ \hline \end{array} Louis's sample size (n)is .$ Soures df SS MS F Regressiumm 1 9.858769 9.858768 12.22345 Retidual 11 8.872 0.806545 Totel 12 78.73077 =0.898 =0.526341 Louis's sample size (n)is .

(Multiple Choice)

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Question 27

The process of constructing a mathematical model or function that can be used to predict or determine one variable by another variable is called regression analysis.

(True/False)

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Question 28

The equation of the trend line for the data based on sales (in $1000)of a local restaurant over the years 2005-2010 is Sales= -265575+132.571*year.Using the trend line, the forecast sales for the year 2012 is ________

(Multiple Choice)

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Question 29

Prediction intervals get narrower as we extrapolate outside the range of the data.

(True/False)

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Question 30

Abby Kratz, a market specialist at the market research firm of Saez, Sikes, and Spitz, is analyzing household budget data collected by her firm.Abby's dependent variable is monthly household expenditures on groceries (in $'s), and her independent variable is annual household income (in $1,000's).Regression analysis of the data yielded the following tables. $\alpha$ = 0.05, Abby should ________________.s), and her independent variable is annual household income (in $1,000's).Regression analysis of the data yielded the following tables. \begin{array}{|c|c|c|c|c|} \hline \text { Soures } & \text { df } & \text { SS } & \text { MS } & F \\ \hline \text { Regressium } & 1 & 76850.99 & 16850.99 & 19.3444 \\ \hline \text { Retidual } & 9 & 7839.915 & 871.10017 & \\ \hline \text { Total } & 10 & 24690.91 & & \\ \hline \end{array}\begin{array} { | l | } \hline S _ { \mathrm { e} } = 29.51448 \\ \hline r ^ { 2 } = 0.682478 \\ \hline \end{array} Using \alpha = 0.05, Abby should . " class="answers-bank-image d-inline" loading="lazy" > Soures df SS MS F Regressium 1 76850.99 16850.99 19.3444 Retidual 9 7839.915 871.10017 Total 10 24690.91 =29.51448 =0.682478 Using $\alpha$ = 0.05, Abby should .

(Multiple Choice)

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Question 31

In the regression equation, ŷ = 54.78 + 1.45x, the intercept is _______.

(Multiple Choice)

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Question 32

Correlation is a measure of the degree of a linear relationship between two variables.

(True/False)

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Question 33

Louis Katz, a cost accountant at Papalote Plastics, Inc.(PPI), is analyzing the manufacturing costs of a molded plastic telephone handset produced by PPI.Louis's independent variable is production lot size (in 1,000's of units), and his dependent variable is the total cost of the lot (in $100's).Regression analysis of the data yielded the following tables. $Louis Katz, a cost accountant at Papalote Plastics, Inc.(PPI), is analyzing the manufacturing costs of a molded plastic telephone handset produced by PPI.Louis's independent variable is production lot size (in 1,000's of units), and his dependent variable is the total cost of the lot (in $100's).Regression analysis of the data yielded the following tables. \begin{array}{|c|c|c|c|c|} \hline \text { Soures } & \text { df } & \text { SS } & \text { MS } & F \\ \hline \text { Regressjumm } & 1 & 9.858769 & 9.858768 & 12.22345 \\ \hline \text { Residual } & 11 & 8.872 & 0.806545 & \\ \hline \text { Tlotal } & 12 & 78.7077 & & \\ \hline \end{array} \begin{array} { | c | } \hline S _ { 8 } = 0.898 \\ \hline x ^ { 2 } = 0.526341 \\ \hline \end{array} For a lot size of 10,000 handsets, Louis' model predicts total cost will be _.$ Soures df SS MS F Regressjumm 1 9.858769 9.858768 12.22345 Residual 11 8.872 0.806545 Tlotal 12 78.7077 =0.898 =0.526341 For a lot size of 10,000 handsets, Louis' model predicts total cost will be _.

(Multiple Choice)

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Question 34

A quality manager is developing a regression model to predict the total number of defects as a function of the day of the week that the item is produced.Production runs are done 10 hours a day, 7 days a week.The explanatory variable is ______.

(Multiple Choice)

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Question 35

A researcher has developed the regression equation ŷ = 2.164 + 1.3657x, where n = 6, the mean of x is 8.667, SS_xx= 89.333, and S_e= 3.44.The researcher wants to test if the slope is significantly positive, and he chooses a significance level of 0.05.The critical t value is ______.

(Multiple Choice)

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Question 36

If there is positive correlation between two sets of numbers, then _______.

(Multiple Choice)

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Question 37

In simple regression analysis the error terms are assumed to be independent and normally distributed with zero mean and constant variance.

(True/False)

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Question 38

If there is perfect negative correlation between two sets of numbers, then _______.

(Multiple Choice)

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Question 39

The slope of the regression line, ŷ = 21 − 5x, is 5.

(True/False)

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Question 40

Showing 21 - 40 of 111

In the simple regression model, ŷ = 21 − 5x, if the coefficient of determination is 0.81, we can say that the coefficient of correlation between y and x is 0.90.

The difference between the actual y value and the predicted ŷ value found using a regression equation is called the residual.

The first step in simple regression analysis is usually to construct a scatter plot.

The slope of the regression line, ŷ = 21 − 5x, is 21.

A simple regression model developed for ten pairs of data resulted in a sum of squares of error, SSE = 125.The standard error of the estimate is _______.

The process of constructing a mathematical model or function that can be used to predict or determine one variable by another variable is called regression analysis.

The equation of the trend line for the data based on sales (in $1000)of a local restaurant over the years 2005-2010 is Sales= -265575+132.571*year.Using the trend line, the forecast sales for the year 2012 is ________

Prediction intervals get narrower as we extrapolate outside the range of the data.

In the regression equation, ŷ = 54.78 + 1.45x, the intercept is _______.

Correlation is a measure of the degree of a linear relationship between two variables.

A quality manager is developing a regression model to predict the total number of defects as a function of the day of the week that the item is produced.Production runs are done 10 hours a day, 7 days a week.The explanatory variable is ______.

A researcher has developed the regression equation ŷ = 2.164 + 1.3657x, where n = 6, the mean of x is 8.667, SS_xx= 89.333, and S_e= 3.44.The researcher wants to test if the slope is significantly positive, and he chooses a significance level of 0.05.The critical t value is ______.

If there is positive correlation between two sets of numbers, then _______.

In simple regression analysis the error terms are assumed to be independent and normally distributed with zero mean and constant variance.

If there is perfect negative correlation between two sets of numbers, then _______.

The slope of the regression line, ŷ = 21 − 5x, is 5.

Introduction to Statistics and Business Analytics

Visualizing Data With Charts and Graphs

Descriptive Statistics

Probability

Discrete Distributions

Continuous Distributions

Sampling and Sampling Distributions

Statistical Inference: Estimation for Single Populations

Statistical Inference: Hypothesis Testing for Single Populations

Statistical Inferences About Two Populations

Analysis of Variance and Design of Experiments

Multiple Regression Analysis

Building Multiple Regression Models

Time-Series Forecasting and Index Numbers

Analysis of Categorical Data

Nonparametric Statistics

Statistical Quality Control

Decision Analysis

Filters

Exam 12: Simple Regression Analysis and Correlation

In the simple regression model, ŷ = 21 − 5x, if the coefficient of determination is 0.81, we can say that the coefficient of correlation between y and x is 0.90.

The difference between the actual y value and the predicted ŷ value found using a regression equation is called the residual.

The first step in simple regression analysis is usually to construct a scatter plot.

The slope of the regression line, ŷ = 21 − 5x, is 21.

A simple regression model developed for ten pairs of data resulted in a sum of squares of error, SSE = 125.The standard error of the estimate is _______.

The process of constructing a mathematical model or function that can be used to predict or determine one variable by another variable is called regression analysis.

The equation of the trend line for the data based on sales (in $1000)of a local restaurant over the years 2005-2010 is Sales= -265575+132.571*year.Using the trend line, the forecast sales for the year 2012 is ________

Prediction intervals get narrower as we extrapolate outside the range of the data.

In the regression equation, ŷ = 54.78 + 1.45x, the intercept is _______.

Correlation is a measure of the degree of a linear relationship between two variables.

A quality manager is developing a regression model to predict the total number of defects as a function of the day of the week that the item is produced.Production runs are done 10 hours a day, 7 days a week.The explanatory variable is ______.

A researcher has developed the regression equation ŷ = 2.164 + 1.3657x, where n = 6, the mean of x is 8.667, SSxx = 89.333, and Se = 3.44.The researcher wants to test if the slope is significantly positive, and he chooses a significance level of 0.05.The critical t value is ______.

If there is positive correlation between two sets of numbers, then _______.

In simple regression analysis the error terms are assumed to be independent and normally distributed with zero mean and constant variance.

If there is perfect negative correlation between two sets of numbers, then _______.

The slope of the regression line, ŷ = 21 − 5x, is 5.

Introduction to Statistics and Business Analytics

Visualizing Data With Charts and Graphs

Descriptive Statistics

Probability

Discrete Distributions

Continuous Distributions

Sampling and Sampling Distributions

Statistical Inference: Estimation for Single Populations

Statistical Inference: Hypothesis Testing for Single Populations

Statistical Inferences About Two Populations

Analysis of Variance and Design of Experiments

Multiple Regression Analysis

Building Multiple Regression Models

Time-Series Forecasting and Index Numbers

Analysis of Categorical Data

Nonparametric Statistics

Statistical Quality Control

Decision Analysis

Filters

A researcher has developed the regression equation ŷ = 2.164 + 1.3657x, where n = 6, the mean of x is 8.667, SS_xx= 89.333, and S_e= 3.44.The researcher wants to test if the slope is significantly positive, and he chooses a significance level of 0.05.The critical t value is ______.