Exam 14: Regression Analysis

When two regression models applied on the same data set have the same response variable but a different number of explanatory variables,the model that would evidently provide the better fit is the one with a __________.

Consider the following sample regression equation = 200 + 10x,where y is the supply for Product A (in 1000s)(in 1,000s)and x is the price of Product A (in $).If the price of Product A increases by $3,then we expect the supply for Product A to _______________.

The correlation coefficient could be considered as a "standardized covariance."

If _____ is substantially greater than zero and the number of explanatory variables is large compared with sample size,then the adjusted R² will differ substantially from R².

Which of the following identifies the range for a correlation coefficient?

The following data for five years of the annual returns for two of Vanguard's mutual funds,the Vanguard Energy Fund (x)and the Vanguard Healthcare Fund (y),were given as s_x = 35.77,s_y = 13.34,s_xy = 447.68.Which of the following is the value of the sample correlation coefficient?

Consider the following sample data: a.Construct a scatterplot. b.Calculate b₁ and b₀.What is the sample regression equation? c.Find the predicted value for y if x equals 10,15,and 20.

Compared to the sample correlation coefficient,the sample covariance is a better measure to gauge the strength of the linear relationship between two variables.

Using the same data set,four models are estimated using the same response variable,however,the number of explanatory variables differs.Which of the following models provides the best fit?

The following scatterplot indicates that the relationship between the two variables x and y is ______________.

Consider the following simple linear regression model: y = β₀ + β₁x +ε.The random error term is ____.

Consider the following sample regression equation = 150 - 20x,where y is the demand for Product A (in 1,000s)and x is the price of the product (in $).The slope coefficient indicates that if ______________.

The following scatterplot indicates that the relationship between the two variables x and y is _______________.

In the simple linear regression model,β₀ is the y-intercept of the line y =β₀ + β₁x+ ε.

What is the name of the variable that is used to predict another variable?

The sample correlation coefficient cannot equal zero.

In a simple linear regression model,if the plots on a scatter diagram lie on a straight line,which of the following is the standard error of the estimate?

When estimating = β₀ + β₁x₁ + β₂x₂ +ε,the following regression results using ANOVA were obtained. Which of the following is the adjusted R²?

An economist examines the relationship between the number of patent applications filed and expenditures in research and development (Ramp;D)for the 50 states and the District of Columbia.She believes that if a state spends more on research and development,then more patents will be filed.She estimates the following model: ,where Patents is the number of patent applications filed and R&D is the state's expenditures on research and development (in $1,000,000s).The regression results are shown in the accompanying table. a.Predict the number of patents filed for a state that spends $5,000,000 on R&D. b.Interpret the coefficient attached to R&D. c.Calculate the standard error of the estimate. d.Interpret the coefficient of determination.

Given the augmented Phillips model: Given the augmented Phillips model: y = β₀ + β₁x₁+β₂x₂ +ε,where y = actual rate of inflation (%),x₁ = unemployment rate (%),and x₂ = anticipated inflation rate (%).The response variable or variables(s)in this model is (are)the ___________________.