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Business Stats
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Questions in this quiz (30)
1The least squares regression line minimizes [blank_start]the sum of the squares of the errors[blank_end].
- Athe sum of the squares of the errors
2The coefficient of determination gives the proportion of total squared errors that is explained by the use of the regression model.
- ATrue
- BFalse
3The smallest level of significance at which a null hypothesis will be rejected is called [blank_start]p-value[blank_end].
- Ap-value
4The coefficient of determination is always between [blank_start]0 and 1[blank_end].
- A0 and 1
5The correlation coefficient is between [blank_start]-1 and 1[blank_end].
- A-1 and 1
6The coefficient of determination measures the
- AA. proportion of the variation in the independent variable explained by variations in the dependent variable.
- BB. proportion of the variation in the r2 explained by variations in the dependent variable.
- CC. proportion of the variation in the dependent variable explained by variations in the independent variable.
- DD. proportion of the variation in the r2 explained by variations in the independent variable.
7The term β1 in the regression equation Y-hat = β0 + β1X gives the direction of the relationship between X and Y.
- ATrue
- BFalse
8The term β1 in the regression equation Y = β0 + β1X gives the expected amount of change in Y for each unit change in X.
- ATrue
- BFalse
9Which of the following is true? In regression analysis.
- AA. y represents a value for the dependent variable in our sample.
- BB. y (hat) represents the predicted value for a y, as computed from our sample regression.
- CC. E(y/x) represents the unknown average value for y for (each) given x.
- DD. All of the above
- EE. None of the above.
10Correlation implies causation.
- ATrue
- BFalse
11The power of a test is the probability that it will lead us to reject the null hypothesis when it is true.
- ATrue
- BFalse
12If the relationship between x and y is such that y decreases as x increases, it would be described as [blank_start]inverse[blank_end].
- Ainverse
13When r2 is 0, then β1 is equal to [blank_start]0[blank_end].
- A0
14When β1 is 0, X may still be related to Y but in a non-linear fashion.
- ATrue
- BFalse
15. In simple linear regression, we use [blank_start]one[blank_end] independent variable(s) to predict the value of the dependent variable.
- Aone
16The p-value approach to hypothesis testing
- AA. does not require us to compute the test statistic (observed z).
- BB. Can be used for interval estimation.
- CC. is always misleading
- DD. None of the above
17The sample regression coefficient b measures the
- AA. slope
- BB. vertical intercept
- CC. horizontal intercept
- DD. correlation coefficient
18The method of least squares minimizes the
- AA. sum of errors
- BB. sum of squares of errors
- CC. sum of differences or errors
- DD. sum of products of errors
- EE. Any of the above
1919. In simple linear regression, the number of degrees of freedom for the t-statistic is n-2. What is the best explanation for this?
- AA. There are two parameters estimated, intercept and slope
- BB. The method of least squares is used
- CC. Errors are made in two ways: above and below the line.
- DD. All of the above
- EE. None of the above
20A researcher is interested in conducting a hypothesis test to see whether a new kind of light bulb last longer than the traditional light bulbs. From just this information, you would advise her to use:
- AA. a one-tailed test, with the left tail as the test tail.
- BB. a one-tailed test with the right tail as the test tail.
- CC. a two tailed test.
- DD. a significance level of 100%
- EE. a significance level of 0%.
21A researcher is interested in conducting a hypothesis test to see whether a new kind of light bulb is better than the traditional light bulbs. From just this information, you would advise her to use:
- AA. a one-tailed test, with the left tail as the test tail.
- BB. a one-tailed test with the right tail as the test tail.
- CC. a two tailed test.
- DD. a significance level of 100%
- EE. a significance level of 0%.
22In hypothesis testing, the significance level (α) is a probability based on the assumption that
- AA. the null hypothesis is false.
- BB. the null hypothesis is true
- CC. alternative hypothesis is true
- DD. any of the above, depending on what the test is for.
- EE. none of the above
23In hypothesis testing, rejecting the null hypothesis when it is true
- AA. is called the confidence coefficient.
- BB. is called beta (β)
- CC. is called committing a Type-II error
- DD. is called committing a Type-I error.
- EE. never happens.
24In hypothesis testing, failing to reject the null hypothesis when it is false
- AA. is called the confidence coefficient.
- BB. is called beta (β)
- CC. is called committing a Type-II error
- DD. is called committing a Type-I error.
- EE. never happens.
25p-value is the probability that the mean of a sample is
- AA. at most as far away from the null as our sample’s mean is, if the null is true.
- BB. at least as far away from the null as our sample’s mean is, if the null is true
- CC. as far away from the null as our sample’s means is, if he null is true.
- DD. p-value has nothing to do with any probabilities
26The smaller the p-value is,
- AA. the stronger is the evidence for rejecting the null hypothesis and agreeing with the alternative.
- BB. weaker is the evidence for rejecting the null hypothesis and agreeing with the alternative
- CC. It can be either.
- DD. cannot tell due to insufficient information
27The smaller the p-value is,
- AA. the smaller is the probability of committing a Type II error by rejecting the null.
- BB. the smaller is the probability of committing a Type I error by rejecting the null
- CC. the larger is the probability of committing a Type I error by rejecting the null
- DD. cannot tell due to insufficient information
28Suppose a correlation coefficient ( r ) for a sample is a positive number. Given this, which of the following is true?
- AA. The slope of the regression line will be negative.
- BB. The slope of the regression line will also be positive.
- CC. The slope of the regression line will be zero.
- DD. None of the above. There is no connection between the slope and the correlation coefficient.
29In simple linear regression, which of the following statements indicate no linear relationship between the variables x and y?
- AA. Coefficient of determination is 1.0
- BB. Coefficient of correlation is 0.0
- CC. Coefficient of correlation is -1.0
- DD. Coefficient of determination is - 1.0
- EE. Coefficient of correlation is 1.0
30In a regression problem, if the coefficient of determination is 0.95, this means that
- AA. 95% of the y values are positive.
- BB. 95% of the variation in y can be explained by the variation in x.
- CC. 95% of the x values are equal.
- DD. 95% of the variation in x can be explained by the variation in y.
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- Quiz on Business Stats, created by Hailie Marie Ile on 03/05/2016.
- Author
- Hailie Marie Ile
- Language
- English
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