Search
Info
Warning
Danger

Study Resources (Business Management)

  11. In a simple linear regression analysis the quantity that gives the amount by which the dependent variable changes for a unit change in the independent variable is called the  a. coefficient of determination.b. slope of the regression line.  c. correlation coefficient.d. standard error. 12. A ___________ is used to visualize sample data graphically and to draw preliminary conclusions.
1 Views
View Answer
  56. A sample of 92 observations is taken from an infinite population. The sampling distribution of  is approximately normal because of what theorem? ? 57. A random sample of 150 people was taken from a very large population. Ninety of the people in the sample were female. What is the standard error of the.
0 Views
View Answer
  46. Consider the following time series data. Year Value 1 234 2 287 3 255 4 310 5 298 6 250 7 302 8 267 9 225 10 336   a. Use α = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for year 11. b. Use trial and error to find a value of the exponential smoothing coefficient α (rounded to 2 decimal places) that results.
0 Views
View Answer
1. The finite correction factor should be used in the computation of the standard deviation of the sample mean and the standard population when n/N is ?  a. ?greater than 0.05.  b. ?greater than 0.5.  c. ?less than 0.05.  d. ?less than 0.5. 2. The purpose of statistical inference is to make estimates or draw conclusions about a  a. ?sample based upon information obtained.
2 Views
View Answer
  57. A researcher wanted to study effect of two factors, x1 and x2, on yield (y). The observations are given below. Observations x1 x2 y 1 42.5 30.1 260.4 2 43.5 29.3 261.7 3 43.9 31.1 273.6 4 44.8 29.6 278.6 5 46.8 29.7 281.5 6 47.5 29.9 294.6 7 50.1 30.1 301.2 8 51.9 30.4 314.6 9 54.7 30.5 320.5 10 54.8 31 324.7 11 57.1 31.8 356.7 12 57.8 31.4 370.3 13 62.3 31.5 378 14 66.7 32.1 384.8 15 71.2 32.5 396.9   a. Develop an estimated regression equation with both factors x1 and x2 as the independent variables. Is the overall regression statistically significant at the 0.05 level of significance? If so, then.
0 Views
View Answer
  67. Give an estimated simple linear regression equation of = 46.2 + 589.2x with a coefficient of determination R^2 of 0.7523, interpret the coefficient of determination for this equation. ? 68. The multiple regression model represents pricing for residential housing in a certain market. Predicted Price = 19,856.56 + 6985.25 bedrooms + 87.53 square.
0 Views
View Answer
  11. A time series plot of a period of time (in years) verses revenue (in millions of dollars) is shown below .Which of the following data patterns best describes the scenario shown?  a. Linear trend patternb. Nonlinear trend pattern  c. Seasonal patternd. Cyclical pattern 12. A time series plot of a period of time (in months) verses sales (in.
0 Views
View Answer
  42. Consider the following time series data. Year Value 1 234 2 287 3 255 4 310 5 298 6 250 7 456 8 412 9 525 10 436   Using the naïve method (most recent value) as the forecast for the next year, compute the following measures of forecast accuracy. a. Mean absolute errorb. Mean squared errorc. Mean absolute percentage errord. What is the forecast for year 11? ANSWER:     The following table shows the calculations for parts.
0 Views
View Answer
  55. A research team in at the Gonzaga University is interested in predicting a student's overall university GPA if his/her high school GPA is known. Assume that a random sample of 20 students is selected from the data listed below . High School GPA University GPA 3.65 3.72 3.08 3.21 3.12 3 2.87 2.67 3.34 3.57 2.7 2.97 3.25 2.83 3.01 2.89 3.2 3.8 2.62 2.43 3.71 3.82 2.26 2.66 3.02 3.62 3.58 3.83 3.67 3.74 2.92 2.64 3.71 3.53 3.22 2.99 2.27 2.37 2.8 2.69   a. Develop a scatter chart for these data with.
0 Views
View Answer
  61. A survey conducted by a research team was to investigate how the education level, tenure in current employment, and age, are related to annual income. A sample 20 employees is selected and the data is given below. Education (No. of years) Length of tenure in current employment (No. of years) Age (No. of.
0 Views
View Answer
  51. The data listed below is the average personal income and personal consumption expenditures based on the survey conducted in the year 1995 to 2009 in U.S. Personal income ($) Personal consumptionexpenditures ($) 23,310 18,714 24,444 19,569 25,657 20,414 27,260 21,434 28,336 22,738 30,317 24,227 31,162 25,074 31,448 25,865 32,282 26,848 33,872 28,228 35,423 29,818 37,723 31,210 39,418 32,551 40,156 33,273 39,113 32,853       a. Develop a scatter chart for the above data. What does this chart indicate about the relationship between average personal income and personal.
0 Views
View Answer
  21. In interval estimation, as the sample size becomes larger, the interval estimate  a. ?becomes narrower.  b. ?becomes wider.  c. remains the same, since the mean is not changing.  d. gets closer to 1.96. 22. A statistics teacher started class one day by drawing the names of 10 students out of a hat and asked them to do as many pushups.
0 Views
View Answer
  59. A student is interested in studying the impact of number of books referred by students on a statistics course and the number of lectures they attended on the final grade on the course. A sample of 25 students is selected and the data is given below. BOOKS ATTEND GRADE 2 17 60 3 18 54 1 17 62 5 20 59 2 12 44 1 13 40 3 17 96 4 19 90 5 22 97 2 22 54 5 22 91 1 12 48 3 18 91 1 12 65 4 21 82 5 14 61 3 18 54 3 13 46 1 8 64 5 22 90   a. Use the F test.
0 Views
View Answer
  49. Listed below is a company’s sales in the period 2000 to 2011 along with the national income of the country, where the business is set up. Year National Income (in millions of dollars) x Company's sales (in thousands of dollars) y 2000 305 470 2001 316 485 2002 358 499 2003 350 515 2004 375 532 2005 392 532 2006 400 556 2007 398 576 2008 430 583 2009 456 587 2010 578 601 2011 498 605   a. Develop a scatter chart for the above data. What does this chart indicate.
0 Views
View Answer
  53. A survey is conducted to determine whether the age of car influences the annual maintenance cost. A sample of 10 cars is selected and the data is shown below. Age of car (months) x Annual Maintenance Cost ($) y 3 120 5 115 6 135 7 290 9 275 10 300 11 350 13 475 14 500 15 550   a. Develop a scatter chart for these data with age of cars as the independent.
0 Views
View Answer
  56. A researcher wanted to study effect of two factors, x1 and x2, on yield (y). The observations are given below. Observations x1 x2 y 1 42.5 30.1 260.4 2 43.5 29.3 261.7 3 43.9 31.1 273.6 4 44.8 29.6 278.6 5 46.8 29.7 281.5 6 47.5 29.9 294.6 7 50.1 30.1 301.2 8 51.9 30.4 314.6 9 54.7 30.5 320.5 10 54.8 31 324.7 11 57.1 31.8 356.7 12 57.8 31.4 370.3 13 62.3 31.5 378 14 66.7 32.1 384.8 15 71.2 32.5 396.9   a. Develop an estimated linear regression equation with the factor x1 as the independent variable. Test for a significant relationship between factor x1 and yield at the 0.05 level of significance. b. How.
0 Views
View Answer
  21. A positive forecast error indicates that the forecasting method ________ the dependent variable.  a. overestimated  b. underestimated  c. accurately estimated  d. closely approximated 22. Which of the following measures of forecast accuracy is susceptible to the problem of positive and negative forecast errors offsetting one another?  a. Mean absolute error  b. Mean forecast error  c. Mean squared error  d. Mean absolute percentage error 23. Demand for a product and the.
0 Views
View Answer
  51. The medical director of a company looks at the medical records of all 50 employees and finds that the mean systolic blood pressure for these employees is 126.07.The value of 126.07 is symbolized by. ? ? 52. The sample mean is the point estimator of what population parameter? ? 53. Sample statistics, such as ,  s, or .
0 Views
View Answer
  58. A student is interested in studying the impact of number of books referred by students on a statistics course and the number of lectures they attended on the final grade on the course. A sample of 25 students is selected and the data is given below. BOOKS ATTEND GRADE 2 17 60 3 18 54 1 17 62 5 20 59 2 12 44 1 13 40 3 17 96 4 19 90 5 22 97 2 22 54 5 22 91 1 12 48 3 18 91 1 12 65 4 21 82 5 14 61 3 18 54 3 13 46 1 8 64 5 22 90   a. Develop an estimated regression.
0 Views
View Answer
  48. A research center is interested in investigating about height and age of children who are between 5 to 9 years old. In order to do this, a sample of 15 children is selected and the data is given below. Age (in years) Height (inches) 7 47.3 8 48.8 5 41.3 8 50.4 8 51 7 47.1 7 46.9 7 48 9 51.2 8 51.2 5 40.3 8 48.9 6 45.2 5 41.9 8 49.6   a. Develop a scatter chart with age as the independent.
0 Views
View Answer
  31. A null and alternative hypothesis for a one proportion z test are given as H0: p = 0.8, Ha: p < 0.8. This hypothesis test is  a. lower-tailed.  b. upper-tailed.  c. two-tailed.  d. these hypotheses are incorrectly stated. 32. A pizza shop advertises that they deliver in 30 minutes or less or it is free.  People who live in homes.
0 Views
View Answer
31. The scatter chart below displays the residuals verses the dependent variable, t.  Which of the following conclusions can be drawn based upon this scatter chart??   a.  model is time-invariant.   b.  model captures the relationship between the variables accurately.   c.  residuals are not independent.   d.  residuals are normally distributed.       32. The scatter chart below displays the residuals verses the dependent variable,.
0 Views
View Answer
  58. Could this curve represent a normal distribution? ? 59. You recently took a standardized test in which scores follow a normal distribution with a mean of 18 and a standard deviation of 3. You were told that your score is at the 75th percentile of this distribution. What is your score? ? ? 60. The time in.
0 Views
View Answer
  11. The basis for using a normal probability distribution to approximate the sampling distribution of the sample means and population mean is  a. ?Chebyshev’s theorem.  b. ?the empirical rule.  c. ?the central limit theorem.  d. Bayes’ theorem. 12. When the expected? value of the point estimator is equal to the population parameter it estimates, it is said to be ?  a. ?unbiased.  b. ?precise.  c. symmetric.   d. predicted. 13. A statistics teacher.
0 Views
View Answer
  47. The following time series shows the sales of a particular commodity over the past 15 weeks. Week Sales 1 1,123 2 1,157 3 1,138 4 1,120 5 1,130 6 1,132 7 1,188 8 1,151 9 1,129 10 1,118 11 1,125 12 1,147 13 1,162 14 1,190 15 1,137   a. Construct a time series plot. What type of pattern exists in the data? b. Use α = 0.3 to develop the exponential smoothing values for the time series and compute the forecast of demand.
0 Views
View Answer
  73. The multiple regression model represents pricing for residential housing in a certain market. Predicted Price ?  =  19,856.56 + 6,985.25 bedrooms  + 87.53 square foot. A house in the local market has 4 bedrooms and 2,200 square feet of living area. Use the multiple regression model to determine the predicted price. 74. The.
0 Views
View Answer
  60. A survey conducted by a research team was to investigate how the education level, tenure in current employment, and age, are related to annual income. A sample 20 employees is selected and the data is given below. Education (No. of years) Length of tenure in current employment (No. of years) Age (No. of.
0 Views
View Answer
  63. Consider the following data with the dependent variable y, independent variable x, and the dummy variable d. Y d x 100.0 0 9.3 100.0 0 6.5 50.0 0 4.2 75.0 1 7.4 65.0 0 6.0 90.0 0 7.6 85.0 1 9.6 65.0 1 6.5 50.0 1 6.0 75.0 1 9.9 75.0 1 8.6 65.0 0 4.9 95.0 0 7.2 95.0 0 9.9 90.0 1 7.8 80.0 1 7.2 75.0 0 7.0 95.0 0 8.7 100.0 1 9.9 90.0 1 9.3 70.0 1 9.1 100.0 0 8.9 40.0 0 5.4 90.0 0 8.8 75.0 1 8.8 40.0 1 5.0 45.0 1 6.5 55.0 0 5.2 100.0 0 10.0 90.0 0 8.4 80.0 1 6.4 80.0 0 6.7 90.0 1 8.5 60.0 0 5.9 95.0 1 8.9 45.0 0 6.3 65.0 0 7.5 85.0 1 6.8 60.0 1 5.7 75.0 1 4.5   a. Check if the overall regression relationship exists for the above data. If yes, test the relationship between each independent variable and the dependent variable at the 0.05 level of significance, and interpret the.
0 Views
View Answer
  47. Listed below is data on profit and market capitalization for a sample of 15 different firms in U.S. Profits ($ millions) y Market Capitalization ($ millions) x 296.2 1,936.9 –25 1,171.8 4,085 55,135.8 6,558 97,417.2 12,525 95,198.9 3,394 53,579.7 442.8 12,466.3 633.1 8,894.3 3,528 65,872.4 2,698 25,661.3 1,200.65 19,854.7 11.987 195,643.8 641.8 10,447.8 5,043 66,695.5 5,206 53,558.4   a. Develop a scatter chart for the above data. What does this chart indicate about the relationship between market capitalization and profit?b. Use the data to.
0 Views
View Answer
  64. A production company is studying the relationship between the average cost/unit and number of units produced in a batch. A sample of 10 batches is selected and the data is given below.  No. of units produced  Cost/unit  20 37.7158  35 35.0158  50 30.8158  65 25.8158  80 20.0364  95 16.9064  110 16.3766  120 13.8564  135 13.9696   150  13.847   a. Develop a scatter chart for these data. What does the scatter chart indicate about the.
0 Views
View Answer
    45. Consider the following time series data. Year Value 1 234 2 287 3 255 4 310 5 298 6 250 7 302 8 267 9 225 10 336   a. Construct a time series plot. What type of pattern exists in the data? b. Develop a three-year moving average for this time series. Compute MSE and a forecast for the year 11.   .
0 Views
View Answer
1. _____ is a statistical procedure used to develop an equation showing how two variables are related.  a. Regression analysisb. Data mining  c. Time series analysisd. Factor analysis 2. A regression analysis involving one independent variable and one dependent variable is referred to as a  a. factor analysis.b. time series analysis.  c. simple linear regression.d. data mining. 3. The population parameters that describe the y-intercept and slope.
3 Views
View Answer
52. The data listed below is the average personal income and personal consumption expenditures based on the survey conducted in the year 1995 to 2009 in U.S. Personal income ($) Personal consumptionexpenditures ($) 23,310 18,714 24,444 19,569 25,657 20,414 27,260 21,434 28,336 22,738 30,317 24,227 31,162 25,074 31,448 25,865 32,282 26,848 33,872 28,228 35,423 29,818 37,723 31,210 39,418 32,551 40,156 33,273 39,113 32,853   a. What is the 95 percent confidence interval for the regression parameter β1? Based on this interval, what conclusion can you make about.
0 Views
View Answer
    44. The monthly sales revenue (in hundreds of dollars) of a company for one year is listed below Month Sales ($100s) January 12,354 February 13,657 March 14,536 April 13,478 May 16,590 June 19,790 July 17,987 August 18,657 September 19,765 October 18,678 November 20,678 December 23,675   a. Compute MSE using the most recent value as the forecast for the next period. What is the forecast for the next month?b. Compute MSE using the average of all the data available.
0 Views
View Answer
  50. Listed below is a company’s sales in the period 2000 to 2011 along with the national income of the country, where the business is set up. Year National Income (in millions of dollars) x Company's sales (in thousands of dollars) y 2000 305 470 2001 316 485 2002 358 499 2003 350 515 2004 375 532 2005 392 532 2006 400 556 2007 398 576 2008 430 583 2009 456 587 2010 578 601 2011 498 605   Test whether each of the regression parameters β0 and β1 is equal to zero.
0 Views
View Answer
1. A forecast is defined as a(n)  a. prediction of future values of a time series.  b. quantitative method used when historical data on the variable of interest are either unavailable or not applicable.  c. set of observations on a variable measured at successive points in time.  d. outcome of a random experiment. 2. A set of observations on a variable.
3 Views
View Answer
  41. Determine whether the alternative hypothesis is left-tailed, right-tailed, or two-tailed: Ho: μ = 11  Ha: μ > 11  a. ?left-tailed.  b. right-tailed.  c. ?two-tailed.  d. there is not enough information to make a determination. 42. Which statement is NOT true? ??  a. The greater the level of confidence, the more likely it is that the confidence interval actually includes the true population mean.  b. The.
0 Views
View Answer
    43. Consider the following time series data. Year Value 1 234 2 287 3 255 4 310 5 298 6 250 7 456 8 412 9 525 10 436 Using the average of all the historical data as a forecast for the next year, compute the following measures of forecast accuracy.a. Mean absolute errorb. Mean squared errorc. Mean absolute percentage errord. What is the forecast for year 11? ANSWER:   The following table shows the calculations for.
0 Views
View Answer
  31. ______________________ uses a weighted average of past time series values as the forecast.  a. The qualitative methodb. Exponential smoothing  c. Correlation analysisd. The causal model 32. With reference to exponential forecasting models, a parameter that provides the weight given to the most recent time series value in the calculation of the forecast value is known as the  a. moving average.b. regression.
0 Views
View Answer
    66. Consider the below data which is based on a company’s sales in the period 2000 to 2011 along with the national income of the country, where the business is set up. Year National Income (in millions of dollars) x Company's sales (in thousands of dollars) y 2000 305 470 2001 316 485 2002 358 499 2003 350 515 2004 375 532 2005 392 532 2006 400 556 2007 398 576 2008 430 583 2009 456 587 2010 578 601 2011 498 605   a. Develop a scatter chart for these data,.
0 Views
View Answer
  62. Consider the following data with the dependent variable y, independent variable x, and the dummy variable d. Y d x 100.0 0 9.3 100.0 0 6.5 50.0 0 4.2 75.0 1 7.4 65.0 0 6.0 90.0 0 7.6 85.0 1 9.6 65.0 1 6.5 50.0 1 6.0 75.0 1 9.9 75.0 1 8.6 65.0 0 4.9 95.0 0 7.2 95.0 0 9.9 90.0 1 7.8 80.0 1 7.2 75.0 0 7.0 95.0 0 8.7 100.0 1 9.9 90.0 1 9.3 70.0 1 9.1 100.0 0 8.9 40.0 0 5.4 90.0 0 8.8 75.0 1 8.8 40.0 1 5.0 45.0 1 6.5 55.0 0 5.2 100.0 0 10.0 90.0 0 8.4 80.0 1 6.4 80.0 0 6.7 90.0 1 8.5 60.0 0 5.9 95.0 1 8.9 45.0 0 6.3 65.0 0 7.5 85.0 1 6.8 60.0 1 5.7 75.0 1 4.5   a. Develop the estimated regression equation using all of the independent variables included in the data. b. Test for an overall regression relationship at the 0.05 level of significance. Is there a significant regression.
0 Views
View Answer
    65. A production company is studying the relationship between the average cost/unit and number of units produced in a batch. A sample of 10 batches is selected and the data is given below. No. of units produced Cost/unit 20 37.7158 35 35.0158 50 30.8158 65 25.8158 80 20.0364 95 16.9064 110 16.3766 120 13.8564 135 13.9696 150 13.847   a. Develop an estimated quadratic regression equation for the data. How much variation in the sample.
0 Views
View Answer
  54. A survey is conducted to determine whether the age of car influences the annual maintenance cost. A sample of 10 cars is selected and the data is shown below. Age of car (months) x Annual Maintenance Cost ($) y 3 120 5 115 6 135 7 290 9 275 10 300 11 350 13 475 14 500 15 550   a. Test whether each of the regression parameters β0 and β1 is equal to.
0 Views
View Answer
  41. The prespecified value of the independent variable at which its relationship with the dependent variable changes in a piecewise linear regression model is referred to as the  a. milestone.b. knot.  c. tipping point.d. watchpoint. 42. _____________ refers to the scenario in which the relationship between the dependent variable and one independent variable is different at different values of.
0 Views
View Answer