1. True or False. As the confidence level C increases, the margin of error decre

Question

1. True or False. As the confidence level C increases, the margin of error decresases, if we use the same sample from the same population.

2. What is the risk of extrapolating beyond the values of x when doing a regression analysis?

A: highly innacurate conclusions B: The wrong intercept C: Predicting a percent change in y D: Predicting a pecent change in x

3. Given a scenario in which educational attainment (measured in years of schooling beyond high school) is predicting income, we determine the regrression line y-hat = 25000 + 5000x

Interpret the intercept: A: if an individual didnt go beyond HS education, we expect them to make $25000 B: if an individual doesnt have educational attainment beyond HS, she will make $5000 a year. C: for each additional $1000 spend on education, an individual can expect to earn $25,000 more per year. D: for every one additional year of schooling beyond HS, we expect an increase in income of $5000 on average

Explanation / Answer

1. FALSE: As the confidence level C increases, the margin of error increases

2. C: Predicting a percent change in y

3. A: if an individual didnt go beyond HS education, we expect them to make $25000 and C: for each additional $1000 spend on education, an individual can expect to earn $25,000 more per year

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