Question 1

The partial mega stat output below is regression analysis of the relationship between annual payroll and number of wins in a season for 28 teams in professional sports. The purpose of the analysis is to predict the number of wins when given an annual payroll in $millions. Although technically not a sample, the baseball data below will be treated as a convenience sample of all major league professional sports.  Refer to the printout above. The critical value of t, at the 5% level of significance, for testing the slope of the regression line is:
A) 2.056.
B) 1.706.
C) 1.314.
D) 1.703.
E) 1.061.

Accepted Answer

The answer of The partial mega stat output below is...

Question 2

The following table shows the number of workdays absent based on the length of employment in years.  i. The Y intercept of the linear equation is 7.7407.
ii. The dependent variable (Y) is the number of work days absent.
iii. The slope of the linear equation is -0.6852
A) (i), (ii), and (iii) are all correct statements.
B) (i) and (ii) are correct statements but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) (i), (ii), and (iii) are all false statements.

Accepted Answer

(i) is correct because the Y-intercept is the value of Y when X (length of employment) is 0, which in this case is the number of workdays absent when an employee is just starting their job.
(ii) is correct because the dependent variable (Y) is the number of workdays absent, which is what we are trying to predict/explain.
(iii) is correct because the negative slope indicates that as the length of employment increases, the number of workdays absent decreases, which makes sense since longer-tenured employees are typically more experienced and have better attendance.

Question 3

What is the coefficient of determination? 
A) 91.8%
B) 8.2%
C) 90.0%
D) Cannot be computed

Accepted Answer

The answer of What is the coefficient of determination? 
A)...

Question 4

What is the standard error of the estimate? 
A) 136.8552
B) 12323.56
C) 11.6985
D) Cannot be computed

Accepted Answer

The standard error of the estimate measures the accuracy of predictions made with a regression line. It is calculated by taking the square root of the mean squared error. Since it involves the sum of squared differences between predicted and actual values, it cannot be negative. Option A and B have large positive values, so they are not feasible. Option D suggests that it cannot be computed, which is not the case. Only option C has a feasible positive value, so it is the best choice.

Question 5

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) 1875
B) 1785
C) 4094
D) 3825

Accepted Answer

To find the number of housing starts when the interest rate is 8.25%, substitute X = 8.25 into the equation Y' = 4094 - 269X. This gives Y' = 4094 - 269(8.25) = 4094 - 2221.25 = 1872.75, which rounds to 1875.

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:    The calculated F value is
A) 156.37.
B) 02.64.
C) 86.68.
D) 9.31.

Accepted Answer

The answer of A sales manager for an advertising agency...

Question 7

The partial Mega Stat output below is regression analysis of the relationship between annual payroll and number of wins in a season for 28 teams in professional sports. The purpose of the analysis is to predict the number of wins when given an annual payroll in $millions. Although technically not a sample, the baseball data below will be treated as a convenience sample of all major league professional sports.  Refer to the printout above. The critical value of t, at the 5% level of significance, for testing the coefficient of correlation is:
A) 1.314.
B) 1.706.
C) 1.061.
D) 1.703.
E) 2.056.

Accepted Answer

The answer of The partial Mega Stat output below is...

Question 8

What is the correlation coefficient? 
A) 0.81
B) 0.958
C) -0.84
D) 0.006

Accepted Answer

The correlation coefficient measures the strength and direction of a linear relationship between two variables. A coefficient of 1 indicates a perfect positive linear relationship, while a coefficient of -1 indicates a perfect negative linear relationship. A coefficient of 0 indicates no linear relationship. Therefore, options A, C, and D are not possible choices because the coefficients are either too high, negative or too low. Option B, however, has a coefficient that is close to 1, indicating a strong positive linear relationship. This is the best choice.

Question 9

The following table shows the number of workdays absent based on the length of employment in years.  i. The Y intercept of the linear equation is 4.407.
ii. The dependent variable (Y) is the number of work days absent.
iii. The slope of the linear equation is -0.6852.
A) (i), (ii), and (iii) are all correct statements.
B) (i) and (ii) are correct statements but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) (i), (ii), and (iii) are all false statements.

Accepted Answer

The answer of The following table shows the number of...

Question 10

The following table shows the number of workdays absent based on the length of employment in years.  i. The Y intercept of the linear equation is 7.7407.
ii. The dependent variable (Y) is the number of years employed.
iii. The slope of the linear equation is -0.6852.
A) (i), (ii), and (iii) are all correct statements.
B) (i) and (ii) are correct statements but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) (i), (ii), and (iii) are all false statements.

Accepted Answer

The answer of The following table shows the number of...

Question 11

The following table shows the number of workdays absent based on the length of employment in years.  i. The independent variable (X) is the number of years employed.
ii. The dependent variable (Y) is the number of work days absent.
iii. The slope of the linear equation is -0.6852.
A) (i), (ii), and (iii) are all correct statements.
B) (i) and (ii) are correct statements but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) (i), (ii), and (iii) are all false statements.

Accepted Answer

The answer of The following table shows the number of...

Question 12

The following table shows the number of workdays absent based on the length of employment in years.  i. The least squares equation for the data: Y' = 7.107 - 0.6852X.
ii. The dependent variable (Y) is the number of work days absent.
iii. The slope of the linear equation is -0.6852.
A) (i), (ii), and (iii) are all correct statements.
B) (i) and (ii) are correct statements but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) (i), (ii), and (iii) are all false statements.

Accepted Answer

The answer of The following table shows the number of...

Question 13

The following table shows the number of workdays absent based on the length of employment in years.   Determine the linear regression equation.
A) Y' = 7.7107 - 0.6852X
B) Y' = 7.7407 - 0.6852X
C) Y' = 7.7407 + 0.6852X
D) Y' = -7.7407 - 0.6852X

Accepted Answer

The linear regression equation is in the form Y' = a + bX, where a is the y-intercept and b is the slope. Using the least squares method, the linear regression equation for the given data is Y' = 7.7407 - 0.6852X. Therefore, the best choice is B.

Question 14

The regression analysis can be summarized as follows: 
A) No significant relationship between the variables.
B) A significant negative relationship exists between the variables.
C) A significant positive relationship exists between the variables.
D) For every unit increase in X, Y decreases by 12.8094.

Accepted Answer

The answer of The regression analysis can be summarized as...

Question 15

The following table shows the number of workdays absent based on the length of employment in years.  i. The least squares equation for the data: Y' = 7.7407 - 0.6852X.
ii. The dependent variable (Y) is the number of work days absent.
iii. The negative slope indicates an inverse relationship between the variables.
A) (i), (ii), and (iii) are all correct statements.
B) (i) and (ii) are correct statements but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) (i), (ii), and (iii) are all false statements.

Accepted Answer

The answer of The following table shows the number of...

Question 16

If testing the hypothesis: H₀: $\rho$ = 0, the computed t - statistic is: A) 9.45. B) 8.84. C) 8.18. D) Cannot be computed.

Accepted Answer

The answer of If testing the hypothesis: H₀: $\rho$ =...

Question 17

The following table shows the number of workdays absent based on the length of employment in years.  What is the standard error of estimate?
A) 7.7107
B) -0.6852
C) +0.6852
D) 1.3
E) 3.11

Accepted Answer

The answer of The following table shows the number of...

Question 18

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 rose to 16%?
A) 1875
B) 1785
C) -4094
D) Zero, since you can't have negative housing starts.

Accepted Answer

The answer of The relationship between interest rates as a...

Question 19

The regression equation is: 
A) Y' = 2.179463 - 12.8094 X
B) Y' = -12.8094 + 2.179463X
C) 12.8094 X = 2.179463 Y'

Accepted Answer

The regression equation takes the form of Y' = a + bX, where a is the intercept and b is the slope of the line. Therefore, the correct choice is option B, which has the correct order of the variables and coefficients.

Question 20

Using a 95% significance level, what is the critical value for the F-statistic? 
A) 5.32
B) 239
C) 3.23
D) 241

Accepted Answer

The answer of Using a 95% significance level, what is...

Quiz 12: Linear Regression and Correlation

The following table shows the number of workdays absent based on the length of employment in years. i. The Y intercept of the linear equation is 7.7407. ii. The dependent variable (Y) is the number of work days absent. iii. The slope of the linear equation is -0.6852

What is the coefficient of determination?

What is the standard error of the 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: The calculated F value is

What is the correlation coefficient?

The following table shows the number of workdays absent based on the length of employment in years. i. The Y intercept of the linear equation is 4.407. ii. The dependent variable (Y) is the number of work days absent. iii. The slope of the linear equation is -0.6852.

The following table shows the number of workdays absent based on the length of employment in years. i. The Y intercept of the linear equation is 7.7407. ii. The dependent variable (Y) is the number of years employed. iii. The slope of the linear equation is -0.6852.

The following table shows the number of workdays absent based on the length of employment in years. i. The independent variable (X) is the number of years employed. ii. The dependent variable (Y) is the number of work days absent. iii. The slope of the linear equation is -0.6852.

The following table shows the number of workdays absent based on the length of employment in years. i. The least squares equation for the data: Y' = 7.107 - 0.6852X. ii. The dependent variable (Y) is the number of work days absent. iii. The slope of the linear equation is -0.6852.

The following table shows the number of workdays absent based on the length of employment in years. Determine the linear regression equation.

The regression analysis can be summarized as follows:

If testing the hypothesis: H₀: $\rho$ = 0, the computed t - statistic is: $If testing the hypothesis: H<sub>0</sub>: \rho = 0, the computed t - statistic is: A) 9.45. B) 8.84. C) 8.18. D) Cannot be computed.$

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 rose to 16%?

The regression equation is:

Using a 95% significance level, what is the critical value for the F-statistic?

Quiz 12: Linear Regression and Correlation

The following table shows the number of workdays absent based on the length of employment in years. i. The Y intercept of the linear equation is 7.7407. ii. The dependent variable (Y) is the number of work days absent. iii. The slope of the linear equation is -0.6852

What is the coefficient of determination?

What is the standard error of the 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: The calculated F value is

What is the correlation coefficient?

The following table shows the number of workdays absent based on the length of employment in years. i. The Y intercept of the linear equation is 4.407. ii. The dependent variable (Y) is the number of work days absent. iii. The slope of the linear equation is -0.6852.

The following table shows the number of workdays absent based on the length of employment in years. i. The Y intercept of the linear equation is 7.7407. ii. The dependent variable (Y) is the number of years employed. iii. The slope of the linear equation is -0.6852.

The following table shows the number of workdays absent based on the length of employment in years. i. The independent variable (X) is the number of years employed. ii. The dependent variable (Y) is the number of work days absent. iii. The slope of the linear equation is -0.6852.

The following table shows the number of workdays absent based on the length of employment in years. i. The least squares equation for the data: Y' = 7.107 - 0.6852X. ii. The dependent variable (Y) is the number of work days absent. iii. The slope of the linear equation is -0.6852.

The following table shows the number of workdays absent based on the length of employment in years. Determine the linear regression equation.

The regression analysis can be summarized as follows:

If testing the hypothesis: H0: ρ\rhoρ = 0, the computed t - statistic is:

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 rose to 16%?

The regression equation is:

Using a 95% significance level, what is the critical value for the F-statistic?

If testing the hypothesis: H₀: $\rho$ = 0, the computed t - statistic is: $If testing the hypothesis: H<sub>0</sub>: \rho = 0, the computed t - statistic is: A) 9.45. B) 8.84. C) 8.18. D) Cannot be computed.$