a. Increase by 40 units b. Decrease by 40 units c. Increase by 120 units d. Decr

Question

a. Increase by 40 units

b. Decrease by 40 units

c. Increase by 120 units

d. Decrease by 80 units

2. If the standard error of the estimate for a regression model fitted to a large number of paired observations is 1.75, approximately 95% of the residuals would lie within:

a. -3.50 and +3.50

b. -1.75 and +1.75

c. -0.95 and +0.95

d. -0.68 and +0.68

3.For a certain data set the regression equation is y=21+3x. The correlation coefficient between y and x in this data set:

a. Must be 0

b. Is negative

c. Must be 1

d. Is positive

4. A manager wants to predict the cost (y) of travel for sales people based on the number of days (x) spent on each sales trip. The following model has been developed: y=$400+120x. If a trip took 3 days, the predicted cost of the trip is:

a. 360

b. 760

c. 1080

d. 1560

5.

A researcher has developed a regression model from fourteen pairs of data points and, wants to test to determine if the slope is significantly different from zero. Using two tailed test and a = 0.01, the critical table t value is:

a. 2.650

b. 3.012

c. 3.055

d. 2.718

Explanation / Answer

1) a. Increase by 40 units

2)a. -3.50 and +3.50

3)d. Is positive

4)predicted cost =120*3+400=760 option b

5)for 13 degree of freedom and 0.01 level t critical

b. 3.012

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