QMB 3200 Final Exam Questions With 100% Correct Answers 2024

QMB 3200 Final Exam Questions With 100% Correct Answers 2024 A variable that cannot be measured in numerical terms is called a _____. a. dependent variable b. constant variable c. qualitative variable d. non-measurable random variable - answerc. qualitative variable The difference between the observed value of the dependent variable and the value predicted by using the estimated regression equation is the _____. a. standard error b. residual c. predicted interval d. variance - answerb. residual In a multiple regression model, the error term ε is assumed to _____. a. have a standard deviation of 1 b. have a variance of 0 c. be normally distributed d. have a mean of 1 - answerc. be normally distributed A variable that takes on the values of 0 or 1 and is used to incorporate the effect of qualitative variables in a regression model is called a(n) _____. a. dummy variable b. outlier c. interaction d. constant variable - answera. dummy variable A term used to describe the case when the independent variables in a multiple regression model are correlated is _____. a. correlation b. multicollinearity c. regression d. linearity - answerb. multicollinearity In regression analysis, an outlier is an observation whose _____. a. mean is larger than the standard deviation b. mean is 0 c. residual is 0 d. residual is much larger than the rest of the residual values - answerd. residual is much larger than the rest of the residual values In a multiple regression model, the error term ε is assumed to be a random variable with a mean of _____. a. 0 b. 1 c. any value d. −1 - answera. 0 Exhibit 15-4 a. y = β0 + β1x1 + β2x2 + ε b. E(y) = β0 + β1x1 c. ŷ = b0 + b1 x1 + b2 x2 d. E(y) = β0 + β1x1 + β2x2 Which equation describes the multiple regression model? a. equation d b. equation b c. equation a d. equation c - answerc. equation a In a multiple regression model, the values of the error term, ε, are assumed to be _____. a. independent of each other b. dependent on each other c. 0 d. always negative - answera. independent of each other A measure of goodness of fit for the estimated regression equation is the _____. a. sample size b. mean square due to error c. multiple coefficient of determination d. mean square due to regression - answerc. multiple coefficient of determination Exhibit 15-4 a. y = β0 + β1x1 + β2x2 + ε b. E(y) = β0 + β1x1 c. ŷ = b0 + b1 x1 + b2 x2 d. E(y) = β0 + β1x1 + β2x2 Which equation describes the multiple regression equation? a. equation a b. equation b c. equation c d. equation d - answerd. equation d As the goodness of fit for the estimated multiple regression equation increases, _____. a. the value of the regression equation's constant b0 decreases b. the value of the correlation coefficient increases c. the value of the multiple coefficient of determination increases d. the value of the adjusted multiple coefficient of determination decreases - answerc. the value of the multiple coefficient of determination increases In multiple regression analysis, the correlation among the independent variables is termed _____. a. adjusted coefficient of determination b. multicollinearity c. linearity d. collinearity - answerb. multicollinearity The adjusted multiple coefficient of determination is adjusted for _____. a. the number of independent variables b. the number of equations c. detrimental situations d. the number of dependent variables - answera. the number of independent variables In regression analysis, the response variable is the _____. a. slope of the regression function b. intercept c. independent variable d. dependent variable - answerd. dependent variable Exhibit 15-4 a. y = β0 + β1x1 + β2x2 + ε b. E(y) = β0 + β1x1 c. ŷ = b0 + b1 x1 + b2 x2 d. E(y) = β0 + β1x1 + β2x2 Which equation gives the estimated regression line? a. equation c b. equation d c. equation a