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Exam 13: Additional Topics in Regression Analysis

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Exam 1: Describing Data: Graphical247 Questionsadd course
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If the Durbin-Watson statistic d has values between 0 and dL,this indicates:

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Question 161

Briefly discuss approaches that can be employed in situations where multicollinearity is detected.

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Question 162

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Consider the following model: Y = β0 + β1X1t + β2X2t + γYt-1.Suppose we increase X1 by one unit in time period t,with all other independent variables in the model held fixed. -What is the expected increase in the dependent variable in time period (t + 2)?

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Question 163

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: An economist is in the process of developing a model to predict the price of gold.She believes that the two most important variables are the price of a barrel of oil (x1)and the interest rate (x2).She proposes the model y = β0 + β1x1 + β2x2 + β3x1x3 + ε.A random sample of 20 daily observations was taken.The computer output is shown below. THE REGRESSION EQUATION IS y = 115.6 + 22.3x1 + 14.7x2 - 1.36x1x2 THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: An economist is in the process of developing a model to predict the price of gold.She believes that the two most important variables are the price of a barrel of oil (x<sub>1</sub>)and the interest rate (x<sub>2</sub>).She proposes the model y = β<sub>0</sub> + β<sub>1</sub>x<sub>1</sub> + β<sub>2</sub>x<sub>2</sub> + β<sub>3</sub>x<sub>1</sub>x<sub>3</sub> + ε.A random sample of 20 daily observations was taken.The computer output is shown below. THE REGRESSION EQUATION IS y = 115.6 + 22.3x<sub>1</sub> + 14.7x<sub>2</sub> - 1.36x<sub>1</sub>x<sub>2</sub> S = 20.9 R-Sq = 55.4% ANALYSIS OF VARIANCE -Do these results allow us,at the 5% significance level,to conclude that the model is useful in predicting the price of gold? S = 20.9 R-Sq = 55.4% ANALYSIS OF VARIANCE THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: An economist is in the process of developing a model to predict the price of gold.She believes that the two most important variables are the price of a barrel of oil (x<sub>1</sub>)and the interest rate (x<sub>2</sub>).She proposes the model y = β<sub>0</sub> + β<sub>1</sub>x<sub>1</sub> + β<sub>2</sub>x<sub>2</sub> + β<sub>3</sub>x<sub>1</sub>x<sub>3</sub> + ε.A random sample of 20 daily observations was taken.The computer output is shown below. THE REGRESSION EQUATION IS y = 115.6 + 22.3x<sub>1</sub> + 14.7x<sub>2</sub> - 1.36x<sub>1</sub>x<sub>2</sub> S = 20.9 R-Sq = 55.4% ANALYSIS OF VARIANCE -Do these results allow us,at the 5% significance level,to conclude that the model is useful in predicting the price of gold? -Do these results allow us,at the 5% significance level,to conclude that the model is useful in predicting the price of gold?

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Question 164

Consider the following plot of residuals from a regression.This pattern suggests which of the following problems? Consider the following plot of residuals from a regression.This pattern suggests which of the following problems?

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Question 165

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: An economist is in the process of developing a model to predict the price of gold.She believes that the two most important variables are the price of a barrel of oil (x1)and the interest rate (x2).She proposes the model y = β0 + β1x1 + β2x2 + β3x1x3 + ε.A random sample of 20 daily observations was taken.The computer output is shown below. THE REGRESSION EQUATION IS y = 115.6 + 22.3x1 + 14.7x2 - 1.36x1x2 THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: An economist is in the process of developing a model to predict the price of gold.She believes that the two most important variables are the price of a barrel of oil (x<sub>1</sub>)and the interest rate (x<sub>2</sub>).She proposes the model y = β<sub>0</sub> + β<sub>1</sub>x<sub>1</sub> + β<sub>2</sub>x<sub>2</sub> + β<sub>3</sub>x<sub>1</sub>x<sub>3</sub> + ε.A random sample of 20 daily observations was taken.The computer output is shown below. THE REGRESSION EQUATION IS y = 115.6 + 22.3x<sub>1</sub> + 14.7x<sub>2</sub> - 1.36x<sub>1</sub>x<sub>2</sub> S = 20.9 R-Sq = 55.4% ANALYSIS OF VARIANCE -In the regression model Y = β<sub>0</sub> + β<sub>2</sub>X<sub>1</sub> + β<sub>2</sub>X<sub>2</sub> + ε,the extent of any multicollinearity can be evaluated by finding the correlation between X<sub>2</sub> and X<sub>2</sub> in the sample.Explain why this is so. S = 20.9 R-Sq = 55.4% ANALYSIS OF VARIANCE THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: An economist is in the process of developing a model to predict the price of gold.She believes that the two most important variables are the price of a barrel of oil (x<sub>1</sub>)and the interest rate (x<sub>2</sub>).She proposes the model y = β<sub>0</sub> + β<sub>1</sub>x<sub>1</sub> + β<sub>2</sub>x<sub>2</sub> + β<sub>3</sub>x<sub>1</sub>x<sub>3</sub> + ε.A random sample of 20 daily observations was taken.The computer output is shown below. THE REGRESSION EQUATION IS y = 115.6 + 22.3x<sub>1</sub> + 14.7x<sub>2</sub> - 1.36x<sub>1</sub>x<sub>2</sub> S = 20.9 R-Sq = 55.4% ANALYSIS OF VARIANCE -In the regression model Y = β<sub>0</sub> + β<sub>2</sub>X<sub>1</sub> + β<sub>2</sub>X<sub>2</sub> + ε,the extent of any multicollinearity can be evaluated by finding the correlation between X<sub>2</sub> and X<sub>2</sub> in the sample.Explain why this is so. -In the regression model Y = β0 + β2X1 + β2X2 + ε,the extent of any multicollinearity can be evaluated by finding the correlation between X2 and X2 in the sample.Explain why this is so.

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Question 166

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Consider the following data for two variables,x and y.The independent variable x represents the amount of training time (in hours)for a salesperson starting a new car dealership to adjust fully,and the dependent variable y represents the weekly sales (in $1000s). THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Consider the following data for two variables,x and y.The independent variable x represents the amount of training time (in hours)for a salesperson starting a new car dealership to adjust fully,and the dependent variable y represents the weekly sales (in $1000s). -Develop an estimated regression equation of the form = b<sub>0</sub> + b<sub>1</sub>x using statistical software. -Develop an estimated regression equation of the form THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Consider the following data for two variables,x and y.The independent variable x represents the amount of training time (in hours)for a salesperson starting a new car dealership to adjust fully,and the dependent variable y represents the weekly sales (in $1000s). -Develop an estimated regression equation of the form = b<sub>0</sub> + b<sub>1</sub>x using statistical software. = b0 + b1x using statistical software.

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Question 167

Write the model specification and define the variables for a multiple regression model to predict wages in U.S.dollars as a function of years of experience and country of employment,indicated as Austria,France,Germany,Japan,and United States.

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