Question 1

Which of the following is NOT an advantage of the virtual shopping against the simulated physical store in marketing research?

Accepted Answer

A)  It is cheaper to conduct virtual shopping 
B)  More people can participate in a shorter period of time 
C)  It is easier to make changes and repeat simulations 
D)  The results are more accurate 
A)  It is cheaper to conduct virtual shopping 
B)  More people can participate in a shorter period of time 
C)  It is easier to make changes and repeat simulations 
D)  The results are more accurate

Question 2

Observational research involves questioning a sample of consumers about their responses to actual and potential market conditions.

Accepted Answer

A) True 
 B)False

Question 3

Your coworker has computed the explained and the total variation in Y and asked you to compute the coefficient of determination Expl.var.in $Y = \sum _ { t = 1 } ^ { n } \left( \hat { Y } _ { t } - \bar { Y } \right) ^ { 2 } = 550$
Total. var.in $Y = \sum _ { t = 1 } ^ { n } \left( Y _ { t } - \bar { Y } \right) ^ { 2 } = 895$

Accepted Answer

The answer of Your coworker has computed the explained and...

Question 4

Estimate of b was found to be $$\hat { b } = 1.5$$ with the standard error $s _ { \hat { b } } = 0.5 .$ . Assuming the sample was very large, is the estimate significantly different from zero at 5% significance level

Accepted Answer

The answer of Estimate of b was found to be...

Question 5

The F statistic calculated from a multiple regression analysis is equal to 1.96. If the critical values of the F distribution are 2.42 and 3.47 at the 5 percent and 1 percent levels of significance, respectively, then

Accepted Answer

A)  at least one of the slope coefficients is significantly different from zero. 
B)  none of the slope coefficients is significantly different from zero. 
C)  all of the slope coefficients are significantly different from zero. 
D)  no more than 5 percent (1 out of 20) of the slope coefficients are different from zero. 
A)  at least one of the slope coefficients is significantly different from zero. 
B)  none of the slope coefficients is significantly different from zero. 
C)  all of the slope coefficients are significantly different from zero. 
D)  no more than 5 percent (1 out of 20) of the slope coefficients are different from zero.

Question 6

If the t ratio for the slope of a simple coefficient of a simple linear regression equation is -2.48 and the critical values of the t distribution at the 1 percent and 5 percent levels, respectively, are 3.499 and 2.365, then the slope is

Accepted Answer

A)  not significantly different from zero. 
B)  significantly different from zero at both the 1 percent and the 5 percent levels. 
C)  significantly different from zero at the 1 percent level but not at the 5 percent level. 
D)  significantly different from zero at the 5 percent level but not at the 1 percent level. 
A)  not significantly different from zero. 
B)  significantly different from zero at both the 1 percent and the 5 percent levels. 
C)  significantly different from zero at the 1 percent level but not at the 5 percent level. 
D)  significantly different from zero at the 5 percent level but not at the 1 percent level.

Question 7

Autocorrelation refers to a situation in which

Accepted Answer

A)  successive error terms derived from the application of regression analysis to time-series data are correlated. 
B)  there is a high degree of correlation between two or more of the independent variables included in a multiple regression model. 
C)  the dependent variable is highly correlated with the independent variable(s) in a regression analysis. 
D)  the application of a multiple regression model yields estimates that are nonlinear in form. 
A)  successive error terms derived from the application of regression analysis to time-series data are correlated. 
B)  there is a high degree of correlation between two or more of the independent variables included in a multiple regression model. 
C)  the dependent variable is highly correlated with the independent variable(s) in a regression analysis. 
D)  the application of a multiple regression model yields estimates that are nonlinear in form.

Question 8

Your coworker has run a simple univariate regression and computed the unexplained and the total variation in Y and asked you to compute the coefficient of correlation Unexpl.var.in $Y = \sum _ { t = 1 } ^ { n } \left( \hat { Y } _ { t } - \bar { Y } \right) ^ { 2 } = 380$
Total. var.in $Y = \sum _ { t = 1 } ^ { n } \left( Y _ { t } - \bar { Y } \right) ^ { 2 } = 990$

Accepted Answer

The answer of Your coworker has run a simple univariate...

Question 9

Autocorrelation refers to a situation that is often encountered in time-series data.

Accepted Answer

A) True 
 B)False

Question 10

Multicollinearity refers to a situation in which

Accepted Answer

A)  successive error terms derived from the application of regression analysis to time-series data are correlated. 
B)  there is a high degree of correlation between the independent variables included in a multiple regression model. 
C)  the dependent variable is highly correlated with the independent variable(s) in a regression analysis. 
D)  the application of a multiple regression model yields estimates that are nonlinear in form. 
A)  successive error terms derived from the application of regression analysis to time-series data are correlated. 
B)  there is a high degree of correlation between the independent variables included in a multiple regression model. 
C)  the dependent variable is highly correlated with the independent variable(s) in a regression analysis. 
D)  the application of a multiple regression model yields estimates that are nonlinear in form.

Question 11

Assume that the following is the result of a demand estimation:
,
$$\ln Q = \ln 20 + 5 \ln P + 2 \ln I$$ Where I represents consumer income, P is the price, and Q is quantity demanded. What is the price elasticity of demand?

Accepted Answer

A)  20 
B)  5 
C)  2 
D)  None of the above 
A)  20 
B)  5 
C)  2 
D)  None of the above

Question 12

The application of multiple regression analysis to a data set yields an F statistic that is highly significant and t ratios that are not significant. This is an indication that

Accepted Answer

A)  autocorrelation is present. 
B)  multicollinearity is present. 
C)  homoscedasticity is present. 
D)  heteroscedasticity is present. 
A)  autocorrelation is present. 
B)  multicollinearity is present. 
C)  homoscedasticity is present. 
D)  heteroscedasticity is present.

Question 13

Which of the following is a marketing research approach to demand estimation?

Accepted Answer

A)  Consumer surveys 
B)  Observational research 
C)  Market Experiments 
D)  All of the above 
A)  Consumer surveys 
B)  Observational research 
C)  Market Experiments 
D)  All of the above

Question 14

If the supply curve for a commodity shifts while the demand curve does not shift, then the demand identification problem will not be encountered.

Accepted Answer

A) True 
 B)False

Question 15

Calculate the equation of the linear function that is plotted on the graph.

Accepted Answer

The answer of Calculate the equation of the linear function...

Question 16

If the F test statistic for a regression is greater than the critical value from the F distribution, it implies that

Accepted Answer

A)  none of the independent variables in the regression model has a significant effect on the dependent variable. 
B)  all of the independent variables in the regression model have significant effects on the dependent variable. 
C)  one or more of the independent variables in the regression model have a significant effect on the dependent variable. 
D)  None of the above is correct. 
A)  none of the independent variables in the regression model has a significant effect on the dependent variable. 
B)  all of the independent variables in the regression model have significant effects on the dependent variable. 
C)  one or more of the independent variables in the regression model have a significant effect on the dependent variable. 
D)  None of the above is correct.

Question 17

If a linear function that is plotted on a graph passes through the origin of a graph, then b = 0.

Accepted Answer

A) True 
 B)False

Question 18

The adjusted coefficient of determination is generally larger than the unadjusted coefficient of determination.

Accepted Answer

A) True 
 B)False

Question 19

The estimation of consumer demand by setting up simulated stores, providing a sample of consumers with money, and then allowing them to purchase and keep the commodities they select in the stores is called the

Accepted Answer

A)  consumer survey approach. 
B)  observational research approach. 
C)  consumer clinic approach. 
D)  market experiment approach. 
A)  consumer survey approach. 
B)  observational research approach. 
C)  consumer clinic approach. 
D)  market experiment approach.

Which of the following is NOT an advantage of the virtual shopping against the simulated physical store in marketing research?

Observational research involves questioning a sample of consumers about their responses to actual and potential market conditions.

Estimate of b was found to be $\hat { b } = 1.5$ with the standard error $s _ { \hat { b } } = 0.5 .$ . Assuming the sample was very large, is the estimate significantly different from zero at 5% significance level

The F statistic calculated from a multiple regression analysis is equal to 1.96. If the critical values of the F distribution are 2.42 and 3.47 at the 5 percent and 1 percent levels of significance, respectively, then

If the t ratio for the slope of a simple coefficient of a simple linear regression equation is -2.48 and the critical values of the t distribution at the 1 percent and 5 percent levels, respectively, are 3.499 and 2.365, then the slope is

Autocorrelation refers to a situation in which

Autocorrelation refers to a situation that is often encountered in time-series data.

Multicollinearity refers to a situation in which

Assume that the following is the result of a demand estimation: , $\ln Q = \ln 20 + 5 \ln P + 2 \ln I$ Where I represents consumer income, P is the price, and Q is quantity demanded. What is the price elasticity of demand?

The application of multiple regression analysis to a data set yields an F statistic that is highly significant and t ratios that are not significant. This is an indication that

Which of the following is a marketing research approach to demand estimation?

If the supply curve for a commodity shifts while the demand curve does not shift, then the demand identification problem will not be encountered.

Calculate the equation of the linear function that is plotted on the graph.

If the F test statistic for a regression is greater than the critical value from the F distribution, it implies that

If a linear function that is plotted on a graph passes through the origin of a graph, then b = 0.

The adjusted coefficient of determination is generally larger than the unadjusted coefficient of determination.

The estimation of consumer demand by setting up simulated stores, providing a sample of consumers with money, and then allowing them to purchase and keep the commodities they select in the stores is called the

The Nature and Scope of Managerial Economics

Demand, Supply, and Equilibrium Analysis

Optimization Techniques and New Management Tools

Demand Theory

Demand Forecasting

Production Theory and Estimation

Cost Theory and Estimation

Market Structure: Perfect Competition, Monopoly, and Monopolistic Competition

Oligopoly and Firm Architecture

Game Theory and Strategic Behavior

Pricing Practices

Regulation and Antitrust: The Role of Government in the Economy

Risk Analysis

Long-Run Investment Decisions: Capital Budgeting

Filters

Exam 5: Demand Estimation

Which of the following is NOT an advantage of the virtual shopping against the simulated physical store in marketing research?

Observational research involves questioning a sample of consumers about their responses to actual and potential market conditions.

Estimate of b was found to be b^=1.5\hat { b } = 1.5b^=1.5 with the standard error sb^=0.5.s _ { \hat { b } } = 0.5 .sb^​=0.5. . Assuming the sample was very large, is the estimate significantly different from zero at 5% significance level

The F statistic calculated from a multiple regression analysis is equal to 1.96. If the critical values of the F distribution are 2.42 and 3.47 at the 5 percent and 1 percent levels of significance, respectively, then

If the t ratio for the slope of a simple coefficient of a simple linear regression equation is -2.48 and the critical values of the t distribution at the 1 percent and 5 percent levels, respectively, are 3.499 and 2.365, then the slope is

Autocorrelation refers to a situation in which

Autocorrelation refers to a situation that is often encountered in time-series data.

Multicollinearity refers to a situation in which

Assume that the following is the result of a demand estimation: , ln⁡Q=ln⁡20+5ln⁡P+2ln⁡I\ln Q = \ln 20 + 5 \ln P + 2 \ln IlnQ=ln20+5lnP+2lnI Where I represents consumer income, P is the price, and Q is quantity demanded. What is the price elasticity of demand?

The application of multiple regression analysis to a data set yields an F statistic that is highly significant and t ratios that are not significant. This is an indication that

Which of the following is a marketing research approach to demand estimation?

If the supply curve for a commodity shifts while the demand curve does not shift, then the demand identification problem will not be encountered.

Calculate the equation of the linear function that is plotted on the graph.

If the F test statistic for a regression is greater than the critical value from the F distribution, it implies that

If a linear function that is plotted on a graph passes through the origin of a graph, then b = 0.

The adjusted coefficient of determination is generally larger than the unadjusted coefficient of determination.

The estimation of consumer demand by setting up simulated stores, providing a sample of consumers with money, and then allowing them to purchase and keep the commodities they select in the stores is called the

The Nature and Scope of Managerial Economics

Demand, Supply, and Equilibrium Analysis

Optimization Techniques and New Management Tools

Demand Theory

Demand Forecasting

Production Theory and Estimation

Cost Theory and Estimation

Market Structure: Perfect Competition, Monopoly, and Monopolistic Competition

Oligopoly and Firm Architecture

Game Theory and Strategic Behavior

Pricing Practices

Regulation and Antitrust: The Role of Government in the Economy

Risk Analysis

Long-Run Investment Decisions: Capital Budgeting

Filters

Estimate of b was found to be $\hat { b } = 1.5$ with the standard error $s _ { \hat { b } } = 0.5 .$ . Assuming the sample was very large, is the estimate significantly different from zero at 5% significance level

Assume that the following is the result of a demand estimation: , $\ln Q = \ln 20 + 5 \ln P + 2 \ln I$ Where I represents consumer income, P is the price, and Q is quantity demanded. What is the price elasticity of demand?