Exam 12: Simple Regression Analysis and Correlation

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 F-value to test the overall significance of a regression model is computed by dividing the sum of squares regression (SS_reg)by the sum of squares error (SS_err).

The following residuals plot indicates _______________.

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

In the simple regression model,y = 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 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 ________

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. 11eaa55d_2fe1_a5aa_85d2_f9a41ac9c393_TB3123_00 The correlation coefficient between the two variables in this regression is __________.s),and her independent variable is annual household income (in $1,000's).Regression analysis of the data yielded the following tables. The correlation coefficient between the two variables in this regression is __________." class="answers-bank-image d-inline" loading="lazy" > The correlation coefficient between the two variables in this regression is __________.s),and her independent variable is annual household income (in $1,000's).Regression analysis of the data yielded the following tables. The correlation coefficient between the two variables in this regression is __________." class="answers-bank-image d-inline" loading="lazy" > 11eaa55d_2fe1_a5aa_85d2_f9a41ac9c393_TB3123_00 The correlation coefficient between the two variables in this regression is __________.

If the correlation coefficient between two variables is -1,it means that the two variables are not related.

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.The equation of the trend line when using 1 to 6 for 2005-2010 is ________

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

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

A cost accountant is developing a regression model to predict the total cost of producing a batch of printed circuit boards as a linear function of batch size (the number of boards produced in one lot or batch).The intercept of this model is the ______.

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

The standard error of the estimate,denoted s_e,is the square root of the sum of the squares of the vertical distances between the actual Y values and the predicted values of Y.

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. 11eaa55d_2fe2_b720_85d2_37ddbe331d39_TB3123_00 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. For a household with $50,000 annual income,Abby's model predicts monthly grocery expenditures of ________________." class="answers-bank-image d-inline" loading="lazy" > 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. For a household with $50,000 annual income,Abby's model predicts monthly grocery expenditures of ________________." class="answers-bank-image d-inline" loading="lazy" > 11eaa55d_2fe2_b720_85d2_37ddbe331d39_TB3123_00 For a household with $50,000 annual income,Abby's model predicts monthly grocery expenditures of ________________.

The following data is to be used to construct a regression model: The value of the slope is ____________.

A simple regression model developed for 12 pairs of data resulted in a sum of squares of error,SSE = 246.The standard error of the estimate is _______.

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

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. For a lot size of 10,000 handsets,Louis' model predicts total cost will be _____.

The coefficient of determination is the proportion of variability of the dependent variable (y)accounted for or explained by the independent variable (x).