Questions from Business Statistics

Q: For each of the following situations tell whether the predicted value or

For each of the following situations tell whether the predicted value or the residual would be most useful. a. For budgeting purposes you need to know what number to place under “cost of goods sold” b...

Q: a. Which is usually better, a lower or a higher

a. Which is usually better, a lower or a higher value for R2? b. Which is better, a lower or a higher value for Se?

Q: What is extrapolation? Why is it especially troublesome?

What is extrapolation? Why is it especially troublesome?

Q: Distinguish correlation and regression analysis.

Distinguish correlation and regression analysis.

Q: Which activity (correlation or regression analysis) is involved in each

Which activity (correlation or regression analysis) is involved in each of the following situations? a. Investigating to see whether there is any measurable connection between advertising expenditures...

Q: Why should variables measured in the same basic units be transformed in

Why should variables measured in the same basic units be transformed in the same way?

Q: Describe the two measures that tell you how helpful a multiple regression

Describe the two measures that tell you how helpful a multiple regression analysis is.

Q: What is the primary purpose of writing a report?

What is the primary purpose of writing a report?

Q: What can you do to help those in your audience who are

What can you do to help those in your audience who are short of time?

Q: Continuing with the sample from exercise 2: a.* Find

Continuing with the sample from exercise 2: a.* Find the binomial X for the gender variable (counting the number of females) and interpret it. b.* Find the standard error of X and interpret it. c. Fin...