Exam 12: Simple Regression Analysis and Correlation

Abby Kuntz, a market specialist at the market research firm of Saez, Gann, 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. Using \alpha = 0.05, Abby should ___. " class="answers-bank-image d-inline" loading="lazy" > 11eb6c3a_ec62_4c0d_ad81_ff858582a93a_TB8417_00 Using $\alpha$ = 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. Using \alpha = 0.05, Abby should ___. " class="answers-bank-image d-inline" loading="lazy" > Using $\alpha$ = 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. Using \alpha = 0.05, Abby should ___. " class="answers-bank-image d-inline" loading="lazy" > 11eb6c3a_ec62_4c0d_ad81_ff858582a93a_TB8417_00 Using $\alpha$ = 0.05, Abby should ___.

For a certain data set the regression equation is y = 2 + 3.5x.The correlation coefficient between y and x in this data set ___.

A manager wants to predict the cost (y)of travel for salespeople based on the number of days (x)spent on each sales trip.The following model has been developed: y = $400 + 120x.If a trip took 3 days, the predicted cost of the trip is ___.

The numerical value of the coefficient of correlation must be ___.

Abby Kuntz, a market specialist at the market research firm of Saez, Gann, 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: 11eb6c3a_ec61_d6d7_ad81_a936bb16aa64_TB8417_00 Abby's regression model is ___.s), and her independent variable is annual household income (in $1,000's).Regression analysis of the data yielded the following tables: Abby's regression model is ___." class="answers-bank-image d-inline" loading="lazy" > Abby's regression model is ___.s), and her independent variable is annual household income (in $1,000's).Regression analysis of the data yielded the following tables: Abby's regression model is ___." class="answers-bank-image d-inline" loading="lazy" > 11eb6c3a_ec61_d6d7_ad81_a936bb16aa64_TB8417_00 Abby's regression model is ___.

The slope of the regression line, y = 21 − 8x, is 8.

The following data is to be used to construct a regression model: The value of the y intercept is ___.

A researcher has developed a regression model from fifteen pairs of data points.He wants to test to determine if the slope is significantly different from zero.He uses a two-tailed test and $\alpha$ = 0.10.The critical table t value is ___.

The assumption of constant error variance in regression analysis is called ___.

Alan Nip, market analyst for Clear Sound Mart, is analyzing the relation between heavy metal CD sales and the size of the teenage population.He gathers data from six sales districts.Alan's dependent variable is annual heavy metal CD sales (in $1,000,000's), and his independent variable is teenage population (in 1,000's).Regression analysis of the data yielded the following tables: Alan's regression model can be written as: ___.

One of the assumptions of simple regression analysis is that the error terms are exponentially distributed.

The proportion of variability of the dependent variable accounted for or explained by the independent variable is called the ___.

In a simple regression the coefficient of correlation is the square root of the coefficient of determination.

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 ___.

Louis Tang, a cost accountant at Prime Plastics, Inc.(PPI), is analyzing the manufacturing costs of a moulded 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: The correlation coefficient between Louis's variables is ___.

One of the major uses of residual analysis is to test some of the assumptions underlying regression.

Data points that lie apart from the rest of the points are called deviants.

A manager wishes to predict the annual cost (y)of an automobile based on the number of kilometres (x)driven.The following model was developed: y = 1,550 + 0.36x.If a car is driven 30,000 kilometres, the predicted cost is ___.

The following data is to be used to construct a regression model: The regression equation is ___.

Louis Tang, a cost accountant at Prime Plastics, Inc.(PPI), is analyzing the manufacturing costs of a moulded 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: For a lot size of 10,000 handsets, Louis' model predicts total cost will be ___.