The document is a multiple choice final exam for a statistics course. It contains 27 multiple choice questions testing concepts including hypothesis testing, types of statistical tests such as t-tests, ANOVA, chi-square, and nonparametric tests. It also contains questions about regression analysis, interpreting regression coefficients, residuals, and predicting from regression equations.
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QNT 275 FINAL EXAM JULY 2017 VERSION
Buy Solutions: http://hwsoloutions.com/downloads/qnt-275-final-exam-july-2017-version/
QNT 275 FINAL EXAM JULY 2017 VERSION
QNT 275 FINAL EXAM JULY 2017 VERSION 90% SCORE
QNT 275 FINAL EXAM JULY 2017 VERSION 90% SCORE
We can use the analysis of variance procedure to test hypotheses about:
• the proportion of one population
2 4. A researcher is interested in the level of ideolog.docxfelicidaddinwoodie
2
4. A researcher is interested in the level of ideological consistency among Democrats and Republicans.
She creates a measure of ideological consistency that ranges from 0 (total lack of consistency) to 10
(absolute consistency). What kind of statistical test should the researcher employ?
A. Chi-Square
B. Guessing
C. Differences of Means Test
D. Correlation
5. Regression in appropriate when our dependent variable is measured at what level of measurement?
A. Interval
B. Ordinal
C. Nominal
D. Dummy
6. A type one error occurs…
A. When we incorrectly fail to reject the null hypothesis even though it is false
B. When we have measurement error in one of our variables
C. When we incorrectly reject the null hypothesis even though it is true
D. When the results of our analysis do not support our alternative hypothesis
7. Below are four different hypotheses, which of the four should be tested using a one tailed test?
A. Democrats and Republicans will differ in their support for tax cuts
B. Republicans will be more supportive of tax cuts than Democrats
C. Republicans and Democrats will not differ in their support for tax cuts
D. Support for tax cuts will differ by party
8. In Chi Square testing our expected frequencies are…
A. The frequencies we would expect to observe if the null hypothesis was true
B. The frequencies we actually observe
3
C. The frequencies we would expect to observe if the alternative hypothesis was true
D. The frequencies we would expect to observe if the null hypothesis was false
9. A researcher is interested in testing whether males and females differ in their level of political
knowledge. To test this the researcher administers a political knowledge test to a sample of 10 males
and 10 females. Tests are scored out of 100 points. What statistical test should the researcher use to
test her hypothesis that males and females will differ in their level of political knowledge. (Hint think
about what test is appropriate for the level of measurement of these variables)
A. Correlation
B. Chi Square
C. Difference of Means Test
D. Standard Deviation
10. Outliers are a particular problem for which statistical test?
A. Correlation
B. Regression
C. Difference of Means
D. Chi Square
11. In regression our constant (Y intercept) is equal to:
A. The predicted value of Y when all of the X’s in our model = 0
B. The expected change in Y associated with a one unit change in X
C. The predicted value of X when all the Y’s in our model = 0
D. The expected change in X associated with a one unit change in Y
12. If we decrease our probability of making a Type 1 error we…
A. Decease our probability of making a Type 2 error
B. Increase our probability of making a Type 2 error
C. Have the same probability of making a Type 2 error
D. Have 0 probability of making a Type 2 error
4
13. Correlation and regression ana ...
QNT 275 FINAL EXAM JULY 2017 VERSION
Buy Solutions: http://hwsoloutions.com/downloads/qnt-275-final-exam-july-2017-version/
QNT 275 FINAL EXAM JULY 2017 VERSION
QNT 275 FINAL EXAM JULY 2017 VERSION 90% SCORE
QNT 275 FINAL EXAM JULY 2017 VERSION 90% SCORE
We can use the analysis of variance procedure to test hypotheses about:
• the proportion of one population
2 4. A researcher is interested in the level of ideolog.docxfelicidaddinwoodie
2
4. A researcher is interested in the level of ideological consistency among Democrats and Republicans.
She creates a measure of ideological consistency that ranges from 0 (total lack of consistency) to 10
(absolute consistency). What kind of statistical test should the researcher employ?
A. Chi-Square
B. Guessing
C. Differences of Means Test
D. Correlation
5. Regression in appropriate when our dependent variable is measured at what level of measurement?
A. Interval
B. Ordinal
C. Nominal
D. Dummy
6. A type one error occurs…
A. When we incorrectly fail to reject the null hypothesis even though it is false
B. When we have measurement error in one of our variables
C. When we incorrectly reject the null hypothesis even though it is true
D. When the results of our analysis do not support our alternative hypothesis
7. Below are four different hypotheses, which of the four should be tested using a one tailed test?
A. Democrats and Republicans will differ in their support for tax cuts
B. Republicans will be more supportive of tax cuts than Democrats
C. Republicans and Democrats will not differ in their support for tax cuts
D. Support for tax cuts will differ by party
8. In Chi Square testing our expected frequencies are…
A. The frequencies we would expect to observe if the null hypothesis was true
B. The frequencies we actually observe
3
C. The frequencies we would expect to observe if the alternative hypothesis was true
D. The frequencies we would expect to observe if the null hypothesis was false
9. A researcher is interested in testing whether males and females differ in their level of political
knowledge. To test this the researcher administers a political knowledge test to a sample of 10 males
and 10 females. Tests are scored out of 100 points. What statistical test should the researcher use to
test her hypothesis that males and females will differ in their level of political knowledge. (Hint think
about what test is appropriate for the level of measurement of these variables)
A. Correlation
B. Chi Square
C. Difference of Means Test
D. Standard Deviation
10. Outliers are a particular problem for which statistical test?
A. Correlation
B. Regression
C. Difference of Means
D. Chi Square
11. In regression our constant (Y intercept) is equal to:
A. The predicted value of Y when all of the X’s in our model = 0
B. The expected change in Y associated with a one unit change in X
C. The predicted value of X when all the Y’s in our model = 0
D. The expected change in X associated with a one unit change in Y
12. If we decrease our probability of making a Type 1 error we…
A. Decease our probability of making a Type 2 error
B. Increase our probability of making a Type 2 error
C. Have the same probability of making a Type 2 error
D. Have 0 probability of making a Type 2 error
4
13. Correlation and regression ana ...
1.Two normal distributions are compared. One has a mean of 10 an.docxhyacinthshackley2629
1.
Two normal distributions are compared. One has a mean of 10 and a standard deviation of 10. The second normal distribution has a mean of 10 and a standard deviation of 2. Which of the following is true?
A) The locations of the distributions are different.
B) The distributions are from two different families of distributions.
C) The dispersions of the distributions are different.
D) The dispersions of the distributions are the same.
2.
When testing for differences between treatment means, a confidence interval is computed with __________________.
A) The mean square error
B) The standard deviation
C) The sum of squared errors
D) The standard error of the mean
3.
Which symbol represents a test statistic used to test a hypothesis about a population mean?
A) α
B) β
C) μ
D) z
4.
If all the plots on a scatter diagram lie on a straight line, what is the standard error of estimate?
A) -1
B) +1
C) 0
D) Infinity
5.
Twenty randomly selected statistics students were given 15 multiple-choice questions and 15 open-ended questions, all on the same material. The professor was interested in determining if students scored higher on the multiple-choice questions. This experiment is an example of ________________.
A) A one-sample test of means
B) A two-sample test of means
C) A paired t-test
D) A test of proportions
6.
An ANOVA has three sources of variation. They are _____, _____, and _____.
7.
The Intelligence Quotient (IQ) test scores for adults are normally distributed with a mean of 100 and a standard deviation of 15. What is the probability we could select a sample of 50 adults and find the mean of this sample is less than 95?
A) 0.0091
B) 0.9818
C) 0.4909
D) 0.9544
8.
What distribution does the F distribution approach as the sample size increases?
A) Binomial
B) Normal
C) Poisson
D) Exponential
9.
A national manufacturer of unattached garages discovered that the distribution of the time for two construction workers to erect the Red Barn model is normally distributed with a mean of 32 hours and a standard deviation of 2 hours. What percent of the garages take between 32 and 34 hours to erect?
A) 16.29%
B) 76.71%
C) 3.14%
D) 34.13%
10.
The F distribution is a ______________ distribution.
11.
The mean weight of trucks traveling on a particular section of I-475 is not known. A state highway inspector needs an estimate of the population mean. He selects and weighs a random sample of 49 trucks and finds the mean weight is 15.8 tons. The population standard deviation is 3.8 tons. What is the 95% confidence interval for the population mean?
A) 14.7 and 16.9
B) 13.2 and 17.6
C) 10.0 and 20.0
D) 16.1 and 18.1
12.
A student wanted to construct a 95% confidence interval for the mean age of students in her statistics class. She randomly selected nine students. Their average age was 19.1 years with a sample standard deviation of 1.5 years. What is the best point estimate for the population mean?
A) 2.1 years
B) 1.5 years
C) 19.1 years
D) 9 years
13.
The statistical.
QNT 351 Final Exam Answers 2015 versionvincenzwhaley
QNT 351 Final Exam Answers
1) The main purpose of descriptive statistics is to
A. summarize data in a useful and informative manner
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data
2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
A. statistics
B. descriptive statistics
C. inferential statistics
D. levels of measurement
3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?
A. Qualitative
B. Continuous
C. Attribute
D. Discrete
4) What type of variable is the number of robberies reported in your city?
A. Attribute
B. Continuous
C. Discrete
D. Qualitative
5) What level of measurement is the number of auto accidents reported in a given month?
A. Nominal
B. Ordinal
C. Interval
D. Ratio
6) The names of
QNT 351 Final Exam Answers 2015 versioncelestiaorias
QNT 351 Final Exam Answers
1) The main purpose of descriptive statistics is to
A. summarize data in a useful and informative manner
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data
2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
A. statistics
B. descriptive statistics
C. inferential statistics
D. levels of measurement
3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?
A. Qualitative
B. Continuous
C. Attribute
D. Discrete
4) What type of variable is the number of robberies reported in your city?
A. Attribute
B. Continuous
C. Discrete
D. Qualitative
5) What level of measurement is the number of auto accidents reported in a given month?
A. Nominal
B. Ordinal
C. Interval
D. Ratio
6) The names of
QNT 351 Final Exam Answers 2015 versioncelestiaorias
QNT 351 Final Exam Answers
1) The main purpose of descriptive statistics is to
A. summarize data in a useful and informative manner
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data
2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
A. statistics
B. descriptive statistics
C. inferential statistics
D. levels of measurement
3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?
A. Qualitative
B. Continuous
C. Attribute
D. Discrete
4) What type of variable is the number of robberies reported in your city?
A. Attribute
B. Continuous
C. Discrete
D. Qualitative
5) What level of measurement is the number of auto accidents reported in a given month?
A. Nominal
B. Ordinal
C. Interval
D. Ratio
6) The names of
QNT 351 Final Exam Answers 2015 versioncelestiaorias
QNT 351 Final Exam Answers
1) The main purpose of descriptive statistics is to
A. summarize data in a useful and informative manner
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data
2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
A. statistics
B. descriptive statistics
C. inferential statistics
D. levels of measurement
3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?
A. Qualitative
B. Continuous
C. Attribute
D. Discrete
4) What type of variable is the number of robberies reported in your city?
A. Attribute
B. Continuous
C. Discrete
D. Qualitative
5) What level of measurement is the number of auto accidents reported in a given month?
A. Nominal
B. Ordinal
C. Interval
D. Ratio
6) The names of
QNT 351 Final Exam Answers 2015 versioncelestiaorias
QNT 351 Final Exam Answers
1) The main purpose of descriptive statistics is to
A. summarize data in a useful and informative manner
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data
2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
A. statistics
B. descriptive statistics
C. inferential statistics
D. levels of measurement
3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?
A. Qualitative
B. Continuous
C. Attribute
D. Discrete
4) What type of variable is the number of robberies reported in your city?
A. Attribute
B. Continuous
C. Discrete
D. Qualitative
5) What level of measurement is the number of auto accidents reported in a given month?
A. Nominal
B. Ordinal
C. Interval
D. Ratio
6) The names of
QNT 351 Final Exam Answers 2015 versionmahallbethena
QNT 351 Final Exam Answers
1) The main purpose of descriptive statistics is to
A. summarize data in a useful and informative manner
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data
2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
A. statistics
B. descriptive statistics
C. inferential statistics
D. levels of measurement
3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?
A. Qualitative
B. Continuous
C. Attribute
D. Discrete
4) What type of variable is the number of robberies reported in your city?
A. Attribute
B. Continuous
C. Discrete
D. Qualitative
5) What level of measurement is the number of auto accidents reported in a given month?
A. Nominal
B. Ordinal
C. Interval
D. Ratio
6) The names of
QNT 351 Final Exam Answers 2015 versioncelestiaorias
QNT 351 Final Exam Answers
1) The main purpose of descriptive statistics is to
A. summarize data in a useful and informative manner
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data
2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
A. statistics
B. descriptive statistics
C. inferential statistics
D. levels of measurement
3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?
A. Qualitative
B. Continuous
C. Attribute
D. Discrete
4) What type of variable is the number of robberies reported in your city?
A. Attribute
B. Continuous
C. Discrete
D. Qualitative
5) What level of measurement is the number of auto accidents reported in a given month?
A. Nominal
B. Ordinal
C. Interval
D. Ratio
6) The names of
QNT 351 Final Exam Answers
1) The main purpose of descriptive statistics is to
A. summarize data in a useful and informative manner
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data
2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
A. statistics
B. descriptive statistics
C. inferential statistics
D. levels of measurement
3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?
A. Qualitative
B. Continuous
C. Attribute
D. Discrete
4) What type of variable is the number of robberies reported in your city?
A. Attribute
B. Continuous
C. Discrete
D. Qualitative
5) What level of measurement is the number of auto accidents reported in a given month?
A. Nominal
B. Ordinal
C. Interval
D. Ratio
6) The names of
QNT 351 Final Exam Answers 2015 versionmalenasugar
QNT 351 Final Exam Answers
1) The main purpose of descriptive statistics is to
A. summarize data in a useful and informative manner
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data
2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
A. statistics
B. descriptive statistics
C. inferential statistics
D. levels of measurement
3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?
A. Qualitative
B. Continuous
C. Attribute
D. Discrete
4) What type of variable is the number of robberies reported in your city?
A. Attribute
B. Continuous
C. Discrete
D. Qualitative
5) What level of measurement is the number of auto accidents reported in a given month?
A. Nominal
B. Ordinal
C. Interval
D. Ratio
6) The names of
QNT 351 Final Exam Answers 2015 versionmahallbethena
QNT 351 Final Exam Answers
1) The main purpose of descriptive statistics is to
A. summarize data in a useful and informative manner
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data
2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
A. statistics
B. descriptive statistics
C. inferential statistics
D. levels of measurement
3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?
A. Qualitative
B. Continuous
C. Attribute
D. Discrete
4) What type of variable is the number of robberies reported in your city?
A. Attribute
B. Continuous
C. Discrete
D. Qualitative
5) What level of measurement is the number of auto accidents reported in a given month?
A. Nominal
B. Ordinal
C. Interval
D. Ratio
6) The names of
1. RES/342 Final Exam
Answers are HERE!
1) What are the critical z-values for a two-tailed hypothesis test if the significant level =
0.01?
A. ± 1.96
B. ± 2.33
C. ± 2.58
D. ± 1.65
2) In classical hypothesis testing, the test statistic is to the critical value what the
__________.
A. ‘p-value’ is to alpha
B. critical value is to alpha
C. test statistic is to the ‘p-value’
D. level of significance is to the test statistic
3) For a hypothesis test of a single population mean at 95% confidence level, a calculated Z
score of 1.7 supports the conclusion that
A. the population mean is greater than the hypothesized value
B. the null hypothesis cannot be rejected
C. the sample is biased
D. the population mean is less than expected
4) If the paired differences are normal in a test of mean differences, then the distribution
used for testing is the
A. normal distribution
B. chi-square
C. student distribution
D. F distribution
5) One hundred women were polled and 60 reported successfully communicating an
automobile problem to an auto repairman. A sample of 150 men had 95 reporting the same
success. The value of the test statistic for a test of the equality of proportions is
A. -0.5319
B. 0.7293
C. -0.419
D. 0.2702
6) Weekly sales of iPods® at 20 Best Buy® stores are compared before and after installing
a new eye-catching display. To determine if the display is effective in increasing sales, what
type of statistical test would you perform?
A. Comparison of means using independent samples using a t-test
B. Comparison of proportions using independent samples using a z-test
C. Comparison of means using a paired z-test
D. Comparison of means using a paired t-test
7) When is it appropriate to use the paired difference t-test?
2. A. Four samples are compared at once.
B. Any two samples are compared.
C. Two independent samples are compared.
D. Two dependent samples are compared.
8) A survey of hotels found that the average hotel room rate in New Orleans is $88.42 and
the average room rate in Phoenix is $80.61. The survey sampled 50 hotels in each city. The
standard deviations were $5.62 and $4.83, respectively. At alpha=.05, it can be concluded
that there is a significant different in the rates?
A. 7.45
B. -1.96
C. 1.96
D. -7.45
9) If the paired differences are normal in a test of mean differences, the distribution used
for testing is the
A. normal distribution
B. chi-square
C. student t distribution
D. F distribution
10) The accountant for Thomas’s Furniture Store is concerned regarding the outstanding
receivable owed the company. There has been a cash flow problem and it is believed that
the slow collection of accounts receivable is partially the blame. The accountant believes
that 40% of the present accounts are more than 4 months behind in making payments. To
be able to make a decision regarding this belief, a random sample of 100 accounts was
taken. It was found that 37 accounts were more than 4 months late. Did the sample data
confirm the accountant’s belief? Use the .05 significant level for the statistical test.
A. There is not enough evidence to confirm or deny the belief.
B. The accountant's belief is not confirmed.
C. The accountant's belief is confirmed.
D. The accountant needed to take a larger sample.
11) New college business graduates are finding it difficult to get a job. A business journal
has reported that only one in five graduates is able to find a job within 6 months of their
graduation. A report by University of Phoenix indicated that out of a survey of 300 recent
business graduates, 75 had jobs. You are a business major at University of Phoenix and
have a concern about getting a job. Based on this data, will a graduate of University of
Phoenix have a better chance of getting a job in the first 6 months after graduation? Use
the .05 significant level for the test.
A. No, there is not a significant difference.
B. It cannot be predicted based on this data.
C. Yes, there is a significant difference.
D. The business journal information is incorrect.
12) Analysis of variance (ANOVA) is used to
A. compare nominal data
B. compute t- test
C. compare population proportion
D. simultaneously compare several population means
3. 13) Mr. Thomas owns three different restaurants in Cincinnati, Ohio. He is concerned
about the profitability of the restaurants. There are monthly differences between the
restaurants and he wants to determine if the differences in profit are significant. Mr.
Thomas wants to do a statistical test to see if he should be concerned. The best test to
address this problem would be
A. a paired t- test
B. two different t tests
C. an ANOVA test
D. a two sample test
14) Sound engineers studied factors that might affect the output, in decibels, of a rock
concert’s speaker system. The desired level of significance was a = .05. The results of their
ANOVA tests are shown:
Source of Variation SS df MS F P-value
Amplifier 99.02344 99.02344 0.005718
Position 93.98698 31.32899 3.215807 0.051003
Interaction 10.15365 3 3.384549 0.347412 0.791505
Error 155.875 16 9.742188
Total 359.0391 23
The interaction between the Position and Amplifier treatments was
A. very significant
B. slightly significant
C. insignificant
D. highly correlated
15) Totto, an automobile manufacturer, has designed a radically new engine and wants to
recommend the grade of gasoline that will have the best fuel economy. The four grades are
regular, below regular, premium, and super premium. The test car made three trial runs
on the test track using each of the grades and the miles per gallon were recorded. At the
0.05 level, what is the critical value of F used to test the hypothesis that the miles per gallon
for each fuel are the same?
A. 1.96
B. 4.07
C. 2.33
D. 12.00
16) If an ANOVA test is conducted and the null hypothesis is rejected, what does this
indicate?
A. Too many degrees of freedom
B. A difference between at least one pair of population means
C. No difference between the population means
D. The variances are the same
17) Nonparametric statistics are used when
A. you have qualitative data, with your variables being measured at the nominal or
interval level
B. you have qualitative data, with your variables being measured at the ordinal or ratio
level
C. you have qualitative data, with your variables being measured at the nominal or ordinal
level
D. you have qualitative data, with your variables being measured at the ordinal or interval
level
4. 18) The nonparametric test most commonly used for testing the statistical independence
between two variables is
A. the Kruskal- Wallis test
B. the Chi- Square test
C. the Mann Whitney test
D. the Sign test
19) What nonparametric test is used when the assumptions for the parametric ANOVA
cannot be met? Its purpose is to test whether three or more populations are equal. The data
must be at least ordinal scaled.
A. Students’ t
B. Kruskal- Wallis
C. Mann-Whitney
D. ANOVA
20) Rachael Smith is the personnel manager at Johnson and Johnston, an accounting firm.
She is concerned about absenteeism, which seems to be an increasing problem, especially
after days off work. She decided to sample the records to determine if absenteeism was
distributed evenly throughout the 6-day work week. The null hypothesis to be tested was:
Absenteeism is distributed evenly throughout the week. The sample results were:
Day of Week Number Absent
Monday 12
Tuesday 9
Wednesday 11
Thursday 10
Friday 9
Saturday 9
What is the critical value of chi-square with a significant level of = 0.05?
A. 11.070
B. 12.592
C. 13.388
D. 15.033
21) A public opinion poll surveyed a simple random sample of voters. Respondents were
classified by gender and by voting preference—Republican, Democrat, or Independent.
The results follow.
Voting Preferences Republican Democrat Independent Row total
Male 200 150 50 400
Female 250 300 50 600
Column total 450 450 100 1000
If you conduct a chi-square test of independence, what is the expected frequency count of
male Independents?
A. 50
B. 60
C. 40
D. 30
22) What parametric test is equivalent to the nonparametric Spearman's rank test?
A. T-test of correlation coefficient
B. T-test of two sample means
C. T-test of one sample mean.
5. D. T-test of two sample proportions
23) What is the variable used to predict another variable called?
A. Independent variable
B. Dependent variable
C. Moderating variable
D. Intervening variable
24) Michelle used a sample of 50 U.S. cities to estimate the relationship between crime, or
annual property crimes per 100,000 persons, and income, or median income per capita.
Her estimated regression equation was crime = 428 - .01 income. Assuming her model is
statistically significant, if income decreases by $1,000, we would predict that crime will
A. decrease by 1
B. increase by 10
C. decrease by 10
D. increase by 100
25) In the least squares equation, Y' = 12 + 25X the value of 25 indicates
A. the y- intercept
B. for each unit increase in 'x', y' increases by 25
C. for each unit increase in 'y', 'x' increases by 25
D. the residual of 'x' factor
26) A test is conducted in eight cities to see if giving away free transit system maps will
increase bus ridership. In a regression analysis, the dependent variable is the increase in
bus ridership in thousands of persons from the start of the test until its conclusion. The
independent variables are X1 = the number in thousands of free maps distributed and X2 =
a binary equal to 1, if the city has free downtown parking and 0 otherwise. The estimated
regression equation is Y = 1.32+.0345X1-1.45X2. If the Y value for city 3 is 7.3, X1 = 140,
and X2 = 0 the residual for city 3 in thousands is:
A. 6.34
B. 1.15
C. .57
D. 2.01
27) The following linear trend equation was developed for the annual sales of the Tractor
Manufacturing Company. Y' = 355 + 50t in thousands of dollars. How much are sales
increasing by?
A. $50,000 per year
B. $5,00 per month
C. $500,000 per year
D. $6,000 per year
28) The time series component that reflects variability over short, repetitive time periods
that last less than one year is called
A. long-term trend
B. cyclical variation
C. seasonal variation
D. irregular variation
29) A research company has been hired by a realty company to do an analysis of heating
cost of homes in the region. The realty company wanted to be able to predict the heating
6. cost of a typical single-family home. The realty company was constantly being asked
questions regarding heating costs by potential home buyers. It was believed that these
variables would impact heating costs (Y'): mean daily outdoor temperature (X1), the
number of inches of insulation (X2), and the age in years of the furnace (X3). The multiple
regression analysis produced the following regression equation: Y' = 427.2 – 4.58X1 –
14.83X2 + 6.10X3. Which statement is correct based on this analysis?
A. The age of the furnace has an indirect relationship with heating costs.
B. There is an inverse relationship between outdoor temperature and heating costs.
C. There is no real clear relationship between these variables.
D. There exists a direct relationship between inches of insulation and heating costs.
30) If we fit a linear trend to data that are growing exponentially,
A. the fitted trend will be too high at the end
B. the forecasts, if extrapolated, will be too low
C. the forecasts, if extrapolated, will be too high
D. the fitted trend will be too low in the middle