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Statistics
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Statistics for Management and Economics
Quiz 4: Numerical Descriptive Techniques
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Question 241
Short Answer
The ____________________ measures the margin of relative change in the dependent variable.
Question 242
Essay
Consider the following data:
a.Calculate the covariance and the coefficient of correlation for the sample. b.What do these statistics tell you about the relationship between x and y?
Question 243
Multiple Choice
Which of the following characteristics does a histogram help you identify?
Question 244
Essay
Given the following sample data:
a.Calculate the covariance and the correlation coefficient. b.Comment on the relationship between x and y. c.Determine the least squares line. d.Draw the scatter diagram and plot the least squares line.
Question 245
Essay
Longevity and Salary A sample of eight observations of variables x (years of experience)and y (salary in $1,000s)is shown below:
-{Longevity and Salary Narrative} Draw the scatter diagram and plot the least squares line.
Question 246
Short Answer
When two variables x and y are linearly related,it does not necessarily mean that x ____________________ y.
Question 247
Short Answer
In the equation of the least squares line,
is the ____________________ and b
1
is the ____________________.
Question 248
Essay
Longevity and Salary A sample of eight observations of variables x (years of experience)and y (salary in $1,000s)is shown below:
-{Longevity and Salary Narrative} Determine the least squares line,and use it to estimate the value of y for x = 6.
Question 249
Short Answer
The y-intercept of the least squares line is the point on the line when ________________ = 0.
Question 250
True/False
The coefficient of correlation and the least squares line both describe the relationship between two interval variables.
Question 251
Short Answer
The ____________________ of a linear relationship is hard to interpret from the covariance,but it is easy to interpret from the correlation.
Question 252
Short Answer
The coefficient of determination is the percentage of variation in the ____________________ variable that is explained by the variation in the ____________________ variable.
Question 253
True/False
Graphical and numerical techniques,such as histograms and least squares lines provide identical information.
Question 254
Essay
Longevity and Salary A sample of eight observations of variables x (years of experience)and y (salary in $1,000s)is shown below:
-{Longevity and Salary Narrative} a.Calculate the coefficient of correlation,and comment on the relationship between x and y. b.Give a possible reason that the correlation is negative.
Question 255
True/False
The precision provided by the numerical techniques (mean,median,and standard deviation)provides more useful information than graphical techniques (histograms and box plots)alone.
Question 256
True/False
Statisticians typically apply graphical techniques as a first step in a data analysis because we first need to know the shape of the distribution.
Question 257
Short Answer
The magnitude of the correlation measures the ____________________ of a linear relationship.
Question 258
Essay
How is the value of the correlation coefficient r affected in each of the following cases? a.Each x value and y is multiplied by 4. b.Each x value is switched with the corresponding y value. c.Each x value is increased by 2.