Question 1

Which of the following is true about the standard error of estimate?

Accepted Answer

A)  Measure of the accuracy of the prediction. 
B)  Based on squared vertical deviations between Y and Y'. 
C)  Cannot be positive. 
D)  All of these statements are correct. Measure of the accuracy of the prediction; based on squared vertical deviations between Y and Y'; cannot be negative. 
A)  Measure of the accuracy of the prediction. 
B)  Based on squared vertical deviations between Y and Y'. 
C)  Cannot be positive. 
D)  All of these statements are correct. Measure of the accuracy of the prediction; based on squared vertical deviations between Y and Y'; cannot be negative.

Question 2

The following table shows the number of workdays absent based on the length of employment in years.   What is the standard error of estimate?

Accepted Answer

A)  7.7107 
B)  -0.6852 
C)  +0.6852 
D)  1.3 
E)  3.11 
A)  7.7107 
B)  -0.6852 
C)  +0.6852 
D)  1.3 
E)  3.11

Question 3

The relationship between interest rates as a percent (X) and housing starts (Y) is given by the linear equation Y' = 4094 - 269X. What will be the number of housing starts if the interest rate is 8.25%?

Accepted Answer

A)  1875 
B)  1785 
C)  4094 
D)  3825 
A)  1875 
B)  1785 
C)  4094 
D)  3825

Question 4

A sales manager for an advertising agency believes there is a relationship between the number of contacts and the amount of the sales. To verify this belief, the following data was collected:       What is the slope of the linear equation?

Accepted Answer

A)  -12.201 
B)  12.201 
C)  2.1946 
D)  -2.1946 
A)  -12.201 
B)  12.201 
C)  2.1946 
D)  -2.1946

Question 5

In the regression equation, Y' = a + bX, what does the letter "b" represent?

Accepted Answer

A)  Y intercept 
B)  Slope of the line 
C)  Any value of the independent variable that is selected 
D)  Value of Y when X = 0 
A)  Y intercept 
B)  Slope of the line 
C)  Any value of the independent variable that is selected 
D)  Value of Y when X = 0

Question 6

A sales manager for an advertising agency believes there is a relationship between the number of contacts and the amount of the sales. To verify this belief, the following data was collected:       What is the Y-intercept of the linear equation?

Accepted Answer

A)  -12.201 
B)  2.1946 
C)  -2.1946 
D)  12.201 
A)  -12.201 
B)  2.1946 
C)  -2.1946 
D)  12.201

Which of the following is true about the standard error of estimate?

The following table shows the number of workdays absent based on the length of employment in years. What is the standard error of estimate?

The relationship between interest rates as a percent (X) and housing starts (Y) is given by the linear equation Y' = 4094 - 269X. What will be the number of housing starts if the interest rate is 8.25%?

A sales manager for an advertising agency believes there is a relationship between the number of contacts and the amount of the sales. To verify this belief, the following data was collected: What is the slope of the linear equation?

In the regression equation, Y' = a + bX, what does the letter "b" represent?

A sales manager for an advertising agency believes there is a relationship between the number of contacts and the amount of the sales. To verify this belief, the following data was collected: What is the Y-intercept of the linear equation?

What Is Statistics

Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation

Describing Data: Numerical Measures

A Survey of Probability Concepts

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Methods and the Central Limit Theorem

Estimation and Confidence Intervals

One-Sample Tests of Hypothesis

Two-Sample Tests of Hypothesis

Analysis of Variance

Multiple Regression and Correlation Analysis

Chi-Square Applications

Index Numbers

Time Series and Forecasting

An Introduction to Decision Theory

Filters

Exam 12: Linear Regression and Correlation

Which of the following is true about the standard error of estimate?

The following table shows the number of workdays absent based on the length of employment in years. What is the standard error of estimate?

The relationship between interest rates as a percent (X) and housing starts (Y) is given by the linear equation Y' = 4094 - 269X. What will be the number of housing starts if the interest rate is 8.25%?

A sales manager for an advertising agency believes there is a relationship between the number of contacts and the amount of the sales. To verify this belief, the following data was collected: What is the slope of the linear equation?

In the regression equation, Y' = a + bX, what does the letter "b" represent?

A sales manager for an advertising agency believes there is a relationship between the number of contacts and the amount of the sales. To verify this belief, the following data was collected: What is the Y-intercept of the linear equation?

What Is Statistics

Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation

Describing Data: Numerical Measures

A Survey of Probability Concepts

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Methods and the Central Limit Theorem

Estimation and Confidence Intervals

One-Sample Tests of Hypothesis

Two-Sample Tests of Hypothesis

Analysis of Variance

Multiple Regression and Correlation Analysis

Chi-Square Applications

Index Numbers

Time Series and Forecasting

An Introduction to Decision Theory

Filters