Questions from Business Statistics

Q: For the regression equation, answer the following: a.

For the regression equation, answer the following: a. What is it used for? b. Where does it come from? c. What does the constant term tell you? d. What does a regression coefficient tell you?

Q: a. What salary would you expect for an individual with 3

a. What salary would you expect for an individual with 3 years of experience? b. Find the 95% confidence interval for the salary of a new individual (from the same population from which the data were...

Q: a. What does the result of the F test tell you

a. What does the result of the F test tell you? b. What are the two hypotheses of the F test? c. In order for the F test to be significant, do you need a high or a low value of R2? Why?

Q: a. What is the t test for an individual regression coefficient

a. What is the t test for an individual regression coefficient? b. In what way is such a test adjusted for the other X variables? c. If the F test is not significant, are you permitted to go ahead and...

Q: a. How are the standardized regression coefficients computed? b

a. How are the standardized regression coefficients computed? b. How are they useful? c. What are their measurement units?

Q: a. What is multicollinearity? b. What are the

a. What is multicollinearity? b. What are the harmful effects of extreme multicollinearity? c. How might moderate multicollinearity cause your F test to be significant, even though none of your t test...

Q: a. If you want to be sure to get the best

a. If you want to be sure to get the best predictions, why not include among your X variables every conceivably helpful variable you can think of? b. How can a prioritized list help you solve the vari...

Q: a. What is the multiple regression linear model? b

a. What is the multiple regression linear model? b. List three ways in which the multiple regression linear model might fail to hold. c. What scatterplot can help you spot problems with the multiple r...

Q: a. Give two reasons for providing a reference when you make

a. Give two reasons for providing a reference when you make use of material from the Internet, a book, a magazine, or another source. b. How can you tell if you have provided enough information in a r...

Q: a. What material belongs in the appendix? b.

a. What material belongs in the appendix? b. How can an appendix help you satisfy both the casual and the dedicated reader?