Linear Regression Analysis in Business and Economics, Exams of Mathematics

Download Linear Regression Analysis in Business and Economics and more Exams Mathematics in PDF only on Docsity! 1/18 Question 1 1 / 1 point Question 2 1 / 1 point WEEK 7 KNOWLEDGE CHECK HOMEWORK PRACTICE SPRING QUESTIONS AND ANSWERS GRADED A+ Attempt 1 Written: Jun 15, 2022 8:37 PM - Jun 15, 2022 10:39 PM Submission View Your quiz has been submitted successfully. A vacation resort rents SCUBA equipment to certified divers. The resort charges an up-front fee of $25 and another fee of $12.50 an hour. What is the dependent variable? time resort location diver certification fee amount View question 1 feedback Which of the following equations are linear? y+7=3x y=6x2+8 3y=6x+5y2 2/18 5/18 Annual Net Sales = 44.4256 + 5.5406(Rent) + 0.0979(Inventory) + 3.7165(Advertising) + 2.9543(Sales) - 2.5614(Competitor) Question 5 1 / 1 point 6/18 View question 4 feedback You are thinking about opening up a Starbucks in your area but what to know if it is a good investment. How much money do Starbucks actually make in a year? You collect data to, to help estimate Annual Net Sales, in thousands, of dollars to know how much money you will be making. You collect data on 27 stores to help make your decision. x1 = Rent in Thousand per month x2 = Amount spent on Inventory in Thousand per month x3 = Amount spent on Advertising in Thousand per month x4 = Sales in Thousand per month x5= How many Competitors stores are in the Area Approximately what percentage of the variation in Annual Net Sales is accounted for by these 5 variables in this model? See Attached Excel for Data. Starbuck Sales data.xlsx 98.24% of variation in the Annual Net Sales is accounted for by Rent, Inventory, Advertising, Sales per Month and # of Competitor store in this model. 27.62% of variation in the Annual Net Sales is accounted for by Rent, Inventory, Advertising, Sales per Month and # of Competitor store in this model. 99.25% of variation in the Annual Net Sales is accounted for by Rent, Inventory, Advertising, Sales per Month and # of Competitor store in this model. 99.11% of variation in the Annual Net Sales is accounted for by Rent, 7/18 Inventory, Advertising, Sales per Month and # of Competitor store in this model. View question 5 feedback Question 8 0 / 1 point Question 9 1 / 1 point 10/1 8 The least squares regression line for a data set is yˆ=2.3−0.1x and the standard deviation of the residuals is 0.13. Does a case with the values x = 4.1, y = 2.34 qualify as an outlier? Yes No Cannot be determined with the given information View question 7 feedback The least squares regression line for a data set is yˆ=5+0.3x and the standard deviation of the residuals is 0.4. Does a case with the values x = 2, y = 6.2 qualify as an outlier? Cannot be determined with the given information No Yes View question 8 feedback The closer the correlation coefficient is to 1, the stronger the indication of a negative linear relationship. True False View question 9 feedback Question 11 1 / 1 point 11/1 8 Question 10 1 / 1 point A negative linear relationship implies that larger values of one variable will result in smaller values in the second variable. True False View question 10 feedback The following data represent the weight of a child riding a bike and the rolling distance achieved after going down a hill without pedaling. Weight (lbs.) Rolling Distance (m.) 59 26 84 43 97 48 56 20 103 59 87 44 88 48 92 46 53 28 66 32 71 39 100 49 Question 12 1 / 1 point Question 13 1 / 1 point 12/1 8 Can it be concluded at a 0.05 level of significance that there is a linear correlation between the two variables? yes no Cannot be determined View question 11 feedback If there are 15 data points in a set of data, what is the number of degree of freedom for the Residual? 15 13 14 12 View question 12 feedback The following data represent the weight of a child riding a bike and the rolling distance achieved after going down a hill without pedaling. Weight (lbs.) Rolling Distance (m.) 59 26 84 43 97 48 56 20 103 59 87 44 88 48 92 46 15/1 8 BetaModel B Std. Error Question 15 1 / 1 point 16/1 8 1 (Constant) 38.177 5.089 7.502 .000 Wrist Circumference 4.436 .714 .734 6.212 .000 What is the value of the test statistic to see if the correlation is statistically significant? 0.539 7.502 4.436 5.089 6.212 0.734 View question 14 feedback Body frame size is determined by a person's wrist circumference in relation to height. A researcher measures the wrist circumference and height of a random sample of individuals. Model Summaryb Model R R Square Adjusted R Square Std. Error of the Estimate 17/1 8 1 .734a .539 .525 4.01409 Question 18 1 / 1 point 20/1 8 -0.50 -0.82 0.83 -0.15 View question 17 feedback The correlation coefficient, r, is a number between: 0 and ∞ Question 19 1 / 1 point 21/1 8 -10 and 10 -∞ and ∞ 0 and 10 0 and 1 - 1 and 1 Body frame size is determined by a person's wrist circumference in relation to height. A researcher measures the wrist circumference and height of a random sample of individuals. The data is displayed below. Regression Statistics Multiple R 0.7938 R Square 0.6301 Adjusted R Square 0.6182 Standard Error 3.8648 Observations 33 Question 20 1 / 1 point 22/1 8 Coefficients Standard Error t Stat P-value Intercept 31.6304 5.2538 6.0205 1.16E-06 x 5.4496 0.7499 7.2673 3.55E-08 What is the predicted height (in inches) for a person with a wrist circumference of 7 inches? Round answer to 4 decimal places. Answer:___ Answer: 69.7776 View question 19 feedback Body frame size is determined by a person's wrist circumference in relation to height. A researcher measures the wrist circumference and height of a random sample of individuals. The data is displayed below. Regression Statistics Multiple R 0.7938 R Square 0.6301