MSIT 3000 Exam 1 Review Questions & Answers.
A food retailer that specializes in organic food wants to open a store at a new location in the state of North Carolina, but first they want to predict whether the new store will be profitable in the town that is being considered. The researchers exam...
MSIT 3000 Exam 1 Review Questions &
Answers.
A food retailer that specializes in organic food wants to open a store at a new location in the state of
North Carolina, but first they want to predict whether the new store will be profitable in the town that is
being considered. The researchers examine data from their existing organic food stores across the
country to find out if there is a relationship between the median income of town residents and the
weekly sales of the store. - CORRECT ANSWER explanatory variable- median income of town residents
response variable- weekly sales
A listing posted by a restaurant chain gives, for each of the desserts it sells, the types of desserts,
number of calories, and sodium content in milligrams. The data might be helpful to assess the nutritional
value of the various desserts. - CORRECT ANSWER (a) cases for this set: the different desserts
(b) categorical variables mentioned in this problem: the types of desserts
(c) specify the quantitative variables mentioned in this problem: the number of calories AND the sodium
content
In 2008, a magazine published an article evaluating washing machines. It listed 72 models, giving the
brand, cost ($), size (cubic ft), type, estimated annual energy cost ($), an overall rating (good, excellent,
etc.), and repair history (percentage requiring repairs over the past 5 years). - CORRECT ANSWER (a)
identify the cases: the 72 models of washing machines
(b) identify the categorical variables mentioned in this data set: brand, overall rating, and type
(c) identify the quantitative variables: cost, size, repair history, and estimated annual energy cost
(d) is this data set cross-sectional or time series? cross-sectional
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