Deck 26: Statistics and Data Analysis

Question 1

A company that processes wheat varies the milling time (short, medium and long) and bleaching (no bleaching and bleaching) and measure fiber content (gms/100 grams) of the resulting wheat product to determine the best combination for a desirable wheat product.Which of the following is true about this study?

A)It is an observational study.
B)It is a completely randomized design in one factor.
C)The different levels of milling time act as blocks in the design.
D)It is an experimental study.
E)The different level of bleaching act as blocks in the design.

Answer 1

It is an experimental study.

Question 2

As a preliminary step in its product testing, a fast food chain has two small groups (4 teenagers, 6 older adults) sample the item and "grade" it on "taste." According to the data below, what is the value of an appropriate nonparametric test statistic to determine if the two groups differ in opinion?
GLOBAL : Please place the table above the answers

A)9
B)10
C)11
D)12
E)13

Answer 2

11

Question 3

A company that processes wheat varies the milling time (short, medium and long) and bleaching (no bleaching and bleaching) and measure fiber content (gms/100 grams) of the resulting wheat product to determine the best combination for a desirable wheat product.According to ANOVA results below, the F statistic for testing whether bleaching has an effect on fiber content is ________________________ .

A)1.43
B)1.99
C)17.22
D)19.01
E)45.22

Answer 3

17.22

Question 4

Estimated profits for an investor would depend on how successful a bailout bill would be in helping the U.S.economy.The estimated annual return for two different investment strategies are shown in the following table.If there is a 30% chance that the economy will decline, 50% that there will be no change and 20% chance that it will rebound, the standard deviation associated with the investment strategy of allocating 80% to stocks and 20% to bonds is ________________________ .

A)$1782
B)$2245
C)$2567
D)$3473
E)$4500

Question 5

Suppose that over the last 20 weeks, a law firm had a total of 1045 consultation calls, and that 126 of them did not get an appointment for an initial consult within 24 hours.The lower and upper control limits on the appropriate control chart for these data are ________________________ .

A)0.091 and 0.151
B)0 and 0.124
C)0 and 0.342
D)0.184 and 0.262
E)0.366 and 0.458

Question 6

The effectiveness of three brands of stain remover (EZ-Clean, SpotX, and OXYBoost) were rated (A = excellent to F = poor) by different groups of consumers.The calculated value of the statistic for the appropriate nonparametric test is ________________________ .

A)2.67
B)5.62
C)9.12
D)11.4
E)12.0

Question 7

Suppose that a textile manufacturer finds is an average of 5.5 defects per 100 square foot sections of carpet as part of its quality assurance program.An appropriate control chart to use for these data is the ________________________ .

A)p chart
B)c chart
C)x-bar and r chart
D)Pareto chart
E)ARL chart

Question 8

A manufacturer of solid wood cabinetry requires that its lumber has moisture content (MC) between 5% and 9%.Twenty-five subgroups, each consisting of six pieces of lumber, yield an average MC of 6.95% and an average range of 2.2%.What is the C_pk index?

A)0.37
B)0.75
C)1.53
D)1.99
E)2.67

Question 9

As a preliminary step in its product testing, a fast food chain has two small groups (4 teenagers, 6 older adults) sample the item and "grade" it on "taste." Ratings were grades A to C (including + and -).What nonparametric method is appropriate to determine if the two groups differ in opinion?

A)Wilcoxon Rank-Sum
B)Wilcoxon Signed-Rank
C)Spearman's rho
D)Kruskal Wallis
E)Kendall's tau

Question 10

A manufacturer of solid wood cabinetry requires that its lumber has moisture content (MC) between 5% and 9%.Twenty-five subgroups, each consisting of six pieces of lumber, yield an average MC of 6.95% and an average range of 2.2%.The estimated process standard deviation () is ________________________ .

A)0.18%
B)0.87%
C)1.22%
D)2.2%
E)2.74%

Question 11

Based on the partial ANOVA results shown below, the F statistic value is ________________________ .

A)F = 19.01
B)F = 1.407
C)F = 48.7
D)F = 0.499
E)None of the above.

Question 12

Suppose that over the last 20 weeks, a law firm had a total of 1045 consultation calls, and that 126 of them did not get an appointment for an initial consult within 24 hours.An appropriate control chart to use for these data is the ________________________ .

A)p chart
B)c chart
C)x-bar and r chart
D)Pareto chart
E)ARL chart

Question 13

Suppose that over the last 20 weeks, a law firm had a total of 1045 consultation calls, and that 126 of them did not get an appointment for an initial consult within 24 hours.The centerline on the appropriate control chart for these data is ________________________ .

A)0.006
B)0.098
C)0.121
D)0.223
E)0.412

Question 14

Estimated profits for an investor would depend on how successful a bailout bill would be in helping the U.S.economy.The estimated annual return for two different investment strategies are shown in the following table.If there is a 30% chance that the economy will decline, 50% that there will be no change and 20% chance that it will rebound, the expected value with perfect information is ________________________ .

A)-$250
B)-$450
C)$590
D)$700
E)$1290

Question 15

The effectiveness of three brands of stain remover (EZ-Clean, SpotX, and OXYBoost) were rated (A = excellent to F = poor) by different groups of consumers.The appropriate nonparametric procedure to use to determine whether there differences in the perceived effectiveness among the three brands?

A)Wilcoxon Signed-Rank test.
B)Wilcoxon Rank Sum test.
C)Kruskal Wallis test.
D)Spearman's rho.
E)Mann-Whitney test.

Question 16

Suppose that a textile manufacturer finds is an average of 5.5 defects per 100 square foot sections of carpet as part of its quality assurance program.The lower and upper control limits for the appropriate control chart for these data are ________________________ .

A)0 and 7.688
B)0 and 10.986
C)0 and 12.536
D)2.0 and 9.0
E)2.567 and 12.536

Question 17

In data mining, which of the following is an example of a transactional variable?

A)Household income
B)Occupation
C)Age
D)Annual charitable donations
E)Number of children in household

Question 18

Data were analyzed to see if income level (1 = Low, 2 = Middle, 3 = High) influence the amount consumers spend online for holiday shopping.Based on the ANOVA results shown below, the F statistic value is ________________________ .

A)F = 0.500
B)F = 2.644
C)F = 35.79
D)F = 145
E)None of the above.

Question 19

A company that processes wheat varies the milling time (short, medium and long) and bleaching (no bleaching and bleaching) and measure fiber content (gms/100 grams) of the resulting wheat product to determine the best combination for a desirable wheat product.According to ANOVA results below, the F statistic for testing whether milling has an effect on fiber content is ________________________ .

A)1.43
B)1.99
C)17.22
D)19.01
E)45.22

Question 20

The nonparametric alternative to the paired t-test is the _______________________ .

A)Kruskal-Wallis test
B)Kendall's tau
C)Wilcoxon Rank Sum test
D)Friedman test
E)Wilcoxon Signed Rank test

Question 21

Data were collected for a sample of 12 pharmacists to determine if years of experience and salary are related.Based on the results below, the standard error of the slope for this estimated regression equation is ________________________ .

A)3.381
B)0.2149
C)5.58485
D)82.8
E)1.4882

Question 22

The experiment is run once for each combination of brand of AAA batteries and device (TV remote, hand-held game, flashlight and digital camera).The twelve runs are ordered randomly.The time (in minutes) that each battery lasts under continuous usage is recorded.Which of the following statements is true about this design?

A)This is a completely randomized design in one factor.
B)The devices serve as blocks to account for the variability between the lengths of time batteries last in different devices.
C)The interaction effect between brand of battery and type of device is significant.
D)This is an observational study.
E)This is a retrospective study.

Question 23

A major customer for a vendor of plastic containers requires that its containers have a volume of 10,000 cubic inches with a tolerance of 50 cubic inches.Forty subgroups of five containers each were selected periodically from the production process.The average of the means across all subgroups was found to be 10,012 cubic inches and the average range was 48 cubic inches.What is the C_p index?

A)0.203
B)0.807
C)1.615
D)2.667
E)4.845

Question 24

A company counts and records the number of data entry errors made on the first order form completed each day for a month (control charting).An appropriate control chart to use for these data is the ________________________ .

A)p chart
B)c chart
C)x-bar and r chart
D)Pareto chart
E)ARL chart

Question 25

Three wines (California, Australian and Italian) were tasted by a different group of judges as part of an annual food and wine festival.The judges graded the wines on overall quality (A = excellent to F = poor).The calculated value of the statistic for the appropriate nonparametric test to determine differences in perceived quality is ________________________ .

A)1.25
B)10.78
C)9.45
D)4.34
E)3.45

Question 26

Disparate databases that include demographic and transactional variables merged together are referred to as ________________________ .

A)Data storage bins
B)Data mines
C)OLAP
D)CRISP
E)Data warehouses

Question 27

A major customer for a vendor of plastic containers requires that its containers have a volume of 10,000 cubic inches with a tolerance of 50 cubic inches.Forty subgroups of five containers each were selected periodically from the production process.The average of the means across all subgroups was found to be 10,012 cubic inches and the average range was 48 cubic inches.The lower and upper control limits for the R chart are ________________________ .

A)0 and 111.65 cubic inches
B)9984.30 and 10,039.70 cubic inches
C)9910.53 and 10,113.47 cubic inches
D)0 and 101.47 cubic inches
E)0 to 98 cubic inches

Question 28

The following payoff table (in thousands of dollars) considers three possible levels of demand in a housing complex.If there is a 45% chance that the demand level will be low, 30% that it will be medium and 25% chance that it will be high, what is the expected value of perfect information?

A)$208.75
B)$225
C)$310
D)$326.25
E)$535

Question 29

A major customer for a vendor of plastic containers requires that its containers have a volume of 10,000 cubic inches with a tolerance of 50 cubic inches.Forty subgroups of five containers each were selected periodically from the production process.The average of the means across all subgroups was found to be 10,012 cubic inches and the average range was 48 cubic inches.The estimated process standard deviation () is ________________________ .

A)48 cubic inches
B)22.69 cubic inches
C)20.64 cubic inches
D)50 inches
E)32.99 cubic inches

Question 30

Suppose that six different e-readers were evaluated by two senior citizen consumer groups using rankings from 1 (best) to 6 (worst).What nonparametric method should be used to determine the association between these rankings?

A)Spearman's rho
B)Pearson's rho
C)Wilcoxon Signed-Rank test
D)Mann-Whitney test
E)Wilcoxon's rho

Question 31

Three wines (California, Australian and Italian) were tasted by a different group of judges as part of an annual food and wine festival.The judges graded the wines on overall quality (A = excellent to F = poor).The appropriate nonparametric procedure to determine differences in perceived quality is ________________________ .

A)Wilcoxon Signed-Rank test
B)Wilcoxon Rank Sum test
C)Kruskal Wallis test
D)Spearman's rho
E)Mann-Whitney test

Question 32

Suppose that six different e-readers were evaluated by two senior citizen consumer groups using rankings from 1 (best) to 6 (worst).To determine if there is a difference in the rankings between the two magazines, the appropriate nonparametric method is the ________________________ .

A)Wilcoxon Rank-Sum test
B)Wilcoxon Signed-Rank test
C)Spearman's rho
D)Kruskal Wallis test
E)Kendall's tau

Question 33

Suppose the P-value associated with the F-statistic for testing whether brand affects battery lifetime is 0.128.Based on this we can conclude that ________________________ .

A)we should reject the null hypothesis
B)there is a difference in the mean lifetimes among the different brands
C)there is a difference in the mean lifetimes among the different devices
D)there is no significant interaction effect
E)there is no difference in the mean lifetimes among the different brands

Question 34

Based on the following plot of residuals, what can you say about the conditions for ANOVA?

A)The equal variance assumption is satisfied.
B)The linearity assumption is satisfied.
C)The nearly normal assumption is satisfied.
D)The nearly normal assumption is not satisfied.
E)The additive assumption is satisfied.

Question 35

The following payoff table (in thousands of dollars) considers three possible levels of demand in a housing complex.Using the maximax approach, the action taken should be to ________________________ .

A)build a small complex
B)build a large complex
C)build a large complex with high demand
D)build a small complex with low demand
E)do not build any size complex

Question 36

The nonparametric alternative to the two sample t-test is the ________________________ .

A)Kruskal-Wallis test
B)Kendall's tau
C)Wilcoxon Rank Sum test
D)Friedman test
E)Wilcoxon Signed Rank test

Question 37

A major customer for a vendor of plastic containers requires that its containers have a volume of 10,000 cubic inches with a tolerance of 50 cubic inches.Forty subgroups of five containers each were selected periodically from the production process.The average of the means across all subgroups was found to be 10,012 cubic inches and the average range was 48 cubic inches.The lower and upper control limits for the X-bar chart are ________________________ .

A)0 and 111.65 cubic inches
B)9984.30 and 10,039.70 cubic inches
C)9910.53 and 10,113.47 cubic inches
D)0 and 101.47 cubic inches
E)9950 and 10,050 cubic inches

Question 38

To initiate control charting, twenty-five samples of size five are periodically taken and the resistance (in ohms) of each copper wire is measured.An appropriate control chart to use for these data is the ________________________ .

A)p chart
B)c chart
C)x-bar and r chart
D)Pareto chart
E)ARL chart

Question 39

Suppose that six different e-readers were evaluated by two senior citizen groups with respect to their suitability for use among the older segment of the population.The rankings from 1 (best) to 6 (worst) are shown below.Using the appropriate nonparametric method, the value of the calculated test statistic to determine if there is a difference in the rankings between the two magazines is ________________________ .
GLOBAL : Please place the table above and answers below

A)2.5
B)3
C)5.5
D)7.5
E)10

Question 40

The following payoff table (in thousands of dollars) considers three possible levels of demand in a housing complex.If there is a 45% chance that the demand level will be low, 30% that it will be medium and 25% chance that it will be high, the expected value (in thousands of dollars) associated with the best action is ________________________ .

A)$208.75
B)$225
C)$310
D)$326.25
E)$535

Question 41

According to the regression analysis output below, how much of the variability in tourism revenue is accounted for by the number of foreign visitors?

A)63.4 %
B)13.8 %
C)2.58 billion $
D)21.464 %
E)3.73 billion $

Question 42

Quarterly returns were forecasted for a mutual fund comprised of technology stocks.The forecast errors for the last six quarters are as follows: -0.47, 1.12, -0.85, 1.27, 0.07, and -0.05.The MAD based on these forecast errors is ________________________ .

A)0.18
B)0.22
C)0.64
D)0.77
E)0.98

Question 43

Based on the output below from regression analysis performed to develop a model for predicting a firm's Price-Earnings Ratio (PE) based on Growth Rate, Profit Margin, and whether or not the firm is Green (1 = Yes, 0 = No), we can conclude (α = .05) that ________________________ .

A)Growth Rate is not a significant variable in predicting a firm's PE ratio
B)Profit Margin is a significant variable in predicting a firm's PE ratio
C)the regression coefficient associated with Growth Rate is not significantly different from zero
D)whether or not a firm is Green is significant in predicting its PE ratio
E)the regression coefficient associated with Profit Margin is significantly different from zero

Question 44

Quarterly returns were forecasted for a mutual fund comprised of technology stocks.The forecast errors for the last six quarters are as follows: -0.47, 1.12, -0.85, 1.27, 0.07, and -0.05.The MSE based on these forecast errors is ________________________ .

A)0.18
B)0.22
C)0.64
D)0.77
E)0.98

Question 45

If we were interested in using regression methods to predict the tourism revenue for a particular country that had 30 million foreign visitors we should ________________________ .

A)construct a confidence interval using the regression equation
B)construct a predication interval using the regression equation
C)use the correlation
D)use the standard error
E)None of these.

Question 46

Data were collected for a sample of 12 pharmacists to determine if years of experience and salary are related.Based on the results below, the calculated t-statistic to test whether the regression slope is significant is ________________________ .

A)10.99
B)47.97
C)31.2
D)6.93
E)5.58485

Question 47

A Durbin Watson statistic calculated on a regression model has a value of 0.279.This indicates that the ________________________ .

A)residuals are positively autocorrelated
B)residuals are negatively autocorrelated
C)residuals are not autocorrelated
D)test is inconclusive
E)Durbin Watson cannot be used for this model

Question 48

A regression model:

Was developed to predict a firm's Price-Earnings Ratio (PE) using Growth Rate, Profit Margin, and whether the firm is Green (1 = Yes, 0 = No).Which of the following is the correct interpretation for the regression coefficient of Green?

A)The regression coefficient indicates that the PE ratio of a firm that is green will, on average, be 2.09 higher than a firm that is not green with the same growth rate and profit margin.
B)The regression coefficient indicates that the PE ratio of a firm that is green will, on average, be 2.09 lower than a firm that is not green with the same growth rate and profit margin.
C)The regression coefficient indicates that the PE ratio of a firm that is green will, on average, be 2.09 times higher than a firm that is not green with the same growth rate and profit margin.
D)The regression coefficient indicates that the PE ratio of a firm that is green will, on average, be 2.09 times lower than a firm that is not green with the same growth rate and profit margin.
E)The regression coefficient is not significantly different from zero.

Question 49

According to the results below, what is the correlation between stock price and EPS?

A)-0.975
B)0.906
C)0.950
D)0.975
E)Cannot be determined from the information given.

Question 50

Which of the following measures is used to check for collinearity when building a multiple regression model?

A)Cook's Distance.
B)Variance Inflation Factor.
C)Determination Coefficient.
D)Standardized Residual.
E)Chef's Distance.

Question 51

Which of the following statements about a residual plot is true?

A)A curved pattern indicates nonlinear association between the variables.
B)A pattern of increasing spread indicates the predicted values become less reliable as the explanatory variable increases.
C)If all of the residuals are very small, the model will predict accurately.
D)It should not be used if the regression results are not significant.
E)It cannot be used to analyze linear association.

Question 52

Data were collected for a sample of 12 pharmacists to determine if years of experience and salary are related.Based on the output below, how much of the variability in pharmacists' salary is accounted for by years of experience?

A)82.8 %
B)47.97 %
C)5.58485 thousand dollars
D)10.99 %
E)98.9 %

Question 53

A first-order autoregressive model, AR (1) was fit to monthly closing stock prices, adjusted for dividends, of Boeing Corporation from January 2006 through August 2008 (closing price on the first trading day of the month).Based on the results shown below, the forecast a month in which the previous month's closing price was $67.52 is ________________________ .

A)$65.67
B)$68.26
C)$71.25
D)$74.06
E)Cannot be determined from the information given.

Question 54

According to the partial regression analysis output below, what is the t-statistic to test whether the regression slope is significant?

A)6.20
B)13.88
C)0.07917
D)2.58307
E)3.73

Question 55

The model

Can be used to predict the breaking strength (pounds) of a rope from its diameter (inches).According to this model, how much force should a rope one-half inch in diameter withstand?

A)484 pounds
B)16 pounds
C)22 pounds
D)256 pounds
E)4.7 pounds

Question 56

According to the output below, which of the following statement is true about the correlation between stock price and earnings per share (EPS)?

A)The correlation is negative.
B)The correlation is not significantly different from zero.
C)The correlation is positive and significantly different from zero.
D)The correlation is positive but not significantly different from zero.
E)Cannot be determined from the information given.

Question 57

A least squares estimated regression line has been fitted to a set of data and the resulting residual plot is shown.Which is true?

A)The linear model is appropriate.
B)The linear model is poor because some residuals are large.
C)The linear model is poor because the correlation is near 0.
D)A curved model would be better.
E)A transformation of the data is required.

Question 58

If the point in the upper left corner of the scatterplot shown below is removed, what will happen to the correlation (r) and the slope of the line of best fit (b)?

A)They will not change.
B)Both will increase.
C)Both will decrease.
D)r will increase and b will decrease.
E)r will decrease and b will increase.

Question 59

Data are collected on the number of foreign visitors to a country (million) and total tourism revenue ($billion) for a sample of 10 countries.According to the following output, what is standard error of the slope for this estimated regression equation?

A)2.58307
B)3.462
C)0.07917
D)6.672
E)0.29497

Question 60

Using this regression equation: Salary = 37.2 + 1.49 Years' Experience to predict salary for pharmacists with 10 years of experience gives the following results.Which of the following is true?

A)95% of pharmacists with 10 years of experience earn between $38,960 and $65,130.
B)95% of pharmacists with 10 years of experience earn between $48,010 and $56,080.
C)We are 95% confident that a particular pharmacist who has 10 years of experience earns between $38,960 and $65,130.
D)We are 95% confident that a particular pharmacist who has 10 years of experience earns between $48,010 and $56,080
E)95% of pharmacists with 10 years experience on average earn between $48,010 and $56,080.

Question 61

What scale of measurement is type of workplace injuries (slip and fall, stress related, etc.)?

A)Quantitative
B)Interval
C)Nominal
D)Ordinal
E)Numerical

Question 62

For the following data, the forecasted monthly return for January 2008 using a three-month moving average is ________________________ .

A)1.77
B)1.9
C)1.55
D)2.47
E)1.47

Question 63

Which statement about influential points is true?

A)Removal of an influential point changes the regression line.
B)A high leverage point is always influential.
C)Influential points have large residuals.
D)All outliers are influential.
E)None of these.

Question 64

The regression equation to predict the job performance of new hires based on age, GPA and gender (female = 1 and male = 0) is

Which of the following is the correct interpretation for the regression coefficient of Gender?

A)The regression coefficient indicates that the job performance score for a female will, on average, be 9.06 points higher than for males of the same age and GPA.
B)The regression coefficient indicates that the job performance score for a female will, on average, be 9.06 points lower than for males of the same age and GPA.
C)The regression coefficient indicates that the job performance score for a female will, on average, be 9.06 times higher than for males.
D)The regression coefficient indicates that the job performance score for a female will, on average, be 9.06 times lower than for males.
E)The regression coefficient is not significantly different from zero.

Question 65

The U.S.Bureau of Labor Statistics (BLS) compiles data on a number of variables.Which of the following BLS variables is categorical?

A)Consumer expenditures
B)Type of workplace injuries
C)Wages by occupation
D)Employment costs
E)Productivity by industry

Question 66

The following scatterplot shows output/hour labor and years.The graphical display is an example of what type of data?

A)Cross-sectional
B)Nominal
C)Categorical
D)Time Series
E)Ordinal

Question 67

According to the residual plot for a linear regression model shown to the right, the linear model ________________________ .

A)okay because the same number of points is above the line as below it
B)okay because the association between the two variables is fairly strong
C)no good because the correlation is near 0
D)no good because some residuals are large
E)no good because of the curve in the residuals

Question 68

A consumer research group investigating the relationship between the price of meat (per pound) and the fat content (grams) gathered data that produced the following scatterplot.The residual of the point ($2.00 per pound, 6 grams of fat) is

A)A large positive value
B)A large negative value
C)Affecting the correlation of the variables
D)Both B and C
E)Both A and C

Question 69

A recent survey of online shoppers asked them to indicate the primary reason they shop via the Internet.The table summarizes responses by reason and gender.What percent of respondents cite Convenience as the primary reason they shop online?

A)42%
B)23%
C)62%
D)85%
E)33%

Question 70

According to the multiple regression model to predict the job performance of new hires based on age, GPA and gender (female = 1 and male = 0) shown below, how much of the variability in Job Performance is explained by the model?

A)30.33 %
B)77.7 %
C)5.56 %
D)60.76 %
E)Cannot be determined.

Question 71

Based on the actual and forecasted returns shown below, the MAD is ________________________ .

A)0.507
B)2.344
C)0.249
D)1.531
E)None of the above

Question 72

The U.S.Bureau of Labor Statistics publishes the monthly CPI (consumer price index).This index shows the change in prices paid by urban consumers for a market basket of goods and services.These data are

A)Cross-sectional
B)Nominal
C)Categorical
D)Time Series
E)Ordinal

Question 73

The results of a multiple regression model to predict the job performance of new hires based on age, GPA and gender (female = 1 and male = 0 are shown below.At
Α = .05 we can conclude that ________________________ .

A)Age is not a significant variable in predicting job performance
B)GPA is a significant variable in predicting job performance
C)the regression coefficient associated with GPA is significantly different from zero
D)Gender is a significant variable in predicting job performance
E)the regression coefficient associated with Age is not significantly different from zero

Question 74

The time series graph below shows monthly sales figures for a specialty gift item sold on the Home Shopping Network (HSN).The dominant component in these data is ________________________ .

A)Cyclical
B)Seasonal
C)Randomness
D)Irregular
E)Error

Question 75

Use a single exponential smoothing (SES) model with α = .8 to forecast for January 2008 for the following data.Assuming that the forecast for December 2007 was 1.18 %, this value is ________________________ .

A)1.50
B)1.18
C)1.75
D)1.90
E)2.20

Question 76

The following scatterplot shows output/unit capital and years.The data show

A)There is no consistent increasing or decreasing over time.
B)There is no evidence of a seasonal component.
C)There is some evidence of a cyclical component.
D)There is no linear trend over the time period.
E)All of the above.

Question 77

The Durbin-Watson statistic for a regression model of weekly commodity prices for heating oil (cents) against time was found to be 0.244822.This value indicates that the ________________________ .

A)residuals are positively autocorrelated
B)residuals are negatively autocorrelated
C)residuals are not autocorrelated
D)test is inconclusive
E)none of the above; the Durbin Watson cannot be used for this model

Question 78

According to the following regression analysis, the correlation between average annual cash bonus and average annual pay using α = 0.05 is ________________________ .

A)not significantly different from zero
B)negative but not significantly different from zero
C)positive and significantly different from zero
D)negative and significantly different from zero
E)Cannot be determined from the information given

Question 79

A farmer has increased his wheat production by about the same amount each year.His most useful predictive model is most probably ________________________ .

A)exponential
B)linear
C)logarithmic
D)power
E)quadratic

Question 80

Using the following regression analysis of the relationship between the size of cash bonuses and pay scale, find the correlation between average annual cash bonus and average annual pay?

A)-0.540
B)-0.223
C)0.108
D)0.472
E)Cannot be determined from the information given.