Questions from Business Statistics

Q: In testing the overall significance of a multiple regression model, the

In testing the overall significance of a multiple regression model, the null hypothesis that each one of the β-coefficients of the x-variables in the model is equal to zero, is tested against the alte...

Q: In a regression study, a multiple regression model with two explanatory

In a regression study, a multiple regression model with two explanatory variables is developed using a data set with 23 observations. In the ANOVA table for this model, the sum of squares total (SSyy)...

Q: If the scatter plot of y variable versus x variable shows a

If the scatter plot of y variable versus x variable shows a parabolic shape, which of the following steps would be appropriate to explore the relationship between the two variables? a) Add two more x...

Q: Which of the following statements is true with regard to higher order

Which of the following statements is true with regard to higher order (third. fourth, etc.) multiple regression models? a) They do not usually fit the data better than lower-order models. b) The R2 of...

Q: If a data set contains 6 independent variables, the number of

If a data set contains 6 independent variables, the number of all possible regression models will be __________. a) 31 b) 62 c) 63 d) 64 22. The main difference between forward selection and stepwise...

Q: Data gathered on any characteristic of interest (e.g.,

Data gathered on any characteristic of interest (e.g., a company’s sales) over a period of time (e.g., past five or ten years) at regular intervals (e.g., a month or a quarter) is ca...

Q: A forecasting technique that is not appropriate for forecasting time-series

A forecasting technique that is not appropriate for forecasting time-series data that are stationary is __________. a) A naïve forecasting model b) An averaging model c) A simple linear regression mod...

Q: A regression model, Monthly Sales = 750 + 0.20

A regression model, Monthly Sales = 750 + 0.20 (Month), was developed to predict the monthly sales (in $1,000s) using the data from the months, 1, 2, …, 12 of the past year. The forecast using this mo...

Q: A firm believes that the distribution of the economic class of its

A firm believes that the distribution of the economic class of its customers is 25%, 50%, and 25% in the three possible categories (i.e., lower income class, middle-income class, or upper income class...

Q: Given a small dataset: 2.3, 7.1

Given a small dataset: 2.3, 7.1, 6.3, 5.8, 4.2, what is the range for this data? a) 1.9 b) 2.5 c) 4.8 d) 2.3 10. A useful tool for grouping data is __________. a) A frequency distribution b) Group dy...