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ECN ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS ALREADY TESTED 100% PASSED

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ECN ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS ALREADY TESTED 100% PASSED In regression analysis, the variable that is being predicted is the _____. - Answer- dependent variable If the coefficient of correlation is a negative value, then the coefficient of determination _____. - Answer- must be...

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  • November 15, 2024
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ECN ACTUAL EXAM QUESTIONS
AND CORRECT ANSWERS
ALREADY TESTED 100% PASSED

In regression analysis, the variable that is being predicted is the _____. - Answer-
dependent variable

If the coefficient of correlation is a negative value, then the coefficient of determination
_____. - Answer- must be positive

Exhibit 14-A. The regression output from Excel is for the dependent variable living
expenses and the independent variable income.

ANOVA dfSSMS FRegression122765.580322765.5803 7.1242Residual1031955.4257
3195.54257 Total1154721.006 CoefficientsStandard Errort Stat
Intercept29.499919.709111.4968 income0.44030.164962.6691

Refer to Exhibit 14-A. What is the estimated slope? - Answer- 0.4403

A measure of the strength of the relationship between two variables is the _____. -
Answer- correlation coefficient

Exhibit 14-A. The regression output from Excel is for the dependent variable living
expenses and the independent variable income.

ANOVA dfSSMS FRegression122765.580322765.5803 7.1242Residual1031955.4257
3195.54257 Total1154721.006 CoefficientsStandard Errort Stat
Intercept29.499919.709111.4968 income0.44030.164962.6691

Refer toExhibit 14-A. What is the the test statistic when testing the null hypothesis H0 :
β1 = 1.1? - Answer- -3.999

In a regression analysis, if SSE = 500 and SSR = 300, then the coefficient of
determination is _____. - Answer- .375

In simple linear regression, r2 is the _____. - Answer- coefficient of determination

The rejection region for a one-tailed hypothesis test _____. - Answer- is in the tail that
supports the alternative hypothesis

,For a one-tailed test (upper tail) with a sample size of 900, the null hypothesis will be
rejected at the .05 level of significance if the test statistic is _____. - Answer- greater
than or equal to 1.645

The manager of an automobile dealership is considering a new bonus plan in order to
increase sales. Currently, the mean sales rate per salesperson is five automobiles per
month. The correct set of hypotheses for testing the effect of the bonus plan is _____. -
Answer- H0: μ ≤ 5 vs Ha: μ > 5

A production manager asks the analytics team to test the hypothesis that the average
time to complete a production run is 75 minutes. The analytics team collects a sample
of 35 production run times and finds a sample mean of 77 minutes and s = 6.7. Report
the test statistic for this hypothesis test. - Answer- 1.766

Use the information here to conduct a hypothesis test. Assume the population is
normally distributed.
n=36 =81.8 s=9.3
H0:μ≥84 vs Ha:μ<84
At the 0.05 level of significance the result of the test is, _____. - Answer- fail to reject
the null hypothesis

In testing the null hypothesis H0:μ1-μ2= 0, the computed test statistic is z = 1.5. The
corresponding p-value is _____. - Answer- 0.1336

Bastien, Inc. has been manufacturing small automobiles that have averaged 45 miles
per gallon of gasoline in highway driving. The company has developed a more efficient
engine for its small cars and now advertises that its new small cars average more than
45 miles per gallon in highway driving. An independent testing service road-tested 52 of
the automobiles. The sample showed an average of 46.1 miles per gallon. The sample
standard deviation is 5.3 miles per gallon. Conduct an appropriate hypothesis test. Find
the t-statistic and the appropriate conclusion at the 0.01 level of significance. - Answer- t
= 1.4966 ; fail to reject the null hypothesis

In order to determine the average price of hotel rooms in Houston, a sample of 38
hotels was selected. It was determined that the average price of the rooms in the
sample was $120.7 with a standard deviation of 4. Use an 0.1 level of significance and
determine whether or not the average room price is significantly different from $118.5.
Choose the t-statistic and the appropriate conclusion. - Answer- t = 3.3904 ; reject the
null hypothesis


In hypothesis testing, if the null hypothesis has been rejected when the alternative
hypothesis has been true, _____. - Answer- the correct decision has been made

In hypothesis testing, the alternative hypothesis is _____. - Answer- the hypothesis
concluded to be true if the null hypothesis is rejected

, Your investment executive claims that the average yearly rate of return on the stocks
she recommends is at least 10.0%. You plan on taking a sample to test her claim. The
correct set of hypotheses is _____. - Answer- H0: μ ≥ 10.0% vs Ha: μ < 10.0%

A sample of 39 cookies is taken to test the claim that each cookie contains, on average,
8 chocolate chips. The average number of chocolate chips per cookie in the sample
was 8.2 with a standard deviation of 0.6. Assume the distribution of the population is
normal. Use a 0.01 level of significance. Choose the t-statistic and the appropriate
conclusion for testing this claim. - Answer- t = 2.0817 ; fail to reject the null hypothesis

Use the information here to conduct a hypothesis test. Assume the population is
normally distributed.
n=36 =81.8 s=9.3
H0:μ≥84 vs Ha:μ<84
At the 0.05 level of significance the result of the test is, _____. - Answer- fail to reject
the null hypothesis

A sample of 60 account balances of a credit company showed an average balance of
$1151. The sample standard deviation was $112. You want to determine if the mean of
all account balances is significantly different from $1120. Use a 0.01 level of
significance. Choose the t-statistic and the appropriate conclusion. - Answer- t = 2.144 ;
fail to reject the null hypothesis

The sponsors of television shows targeted at the market of 5- to 8-year olds want to test
the hypothesis that children watch television at most 20 hours per week. The population
of viewing hours per week is known to be normally distributed. A market research firm
conducted a study of children in this age group and found the summary statistics here
for their weekly hours of television viewing. Conduct an appropriate hypothesis test.
Find the t-statistic and the appropriate conclusion at the0.01 level of significance.

mean21.763 Standard Error1.037 Median18.5 Mode #N/A Standard Deviation6.8
Sample Variance46.24 Range25 Minimum4 Maximum29 Sum935.8 Count43 - Answer-
t = 1.7001 ; fail to reject the null hypothesis

A researcher is testing a new painkiller that claims to relieve pain in less than 17
minutes, on average. The researcher collects a sample of 41 observations and found
that = 17.8 and s = 4.2. Report the test statistic. - Answer- 1.22

A statistics teacher wants to see if there is any difference in the abilities of students
enrolled in statistics today and those enrolled five years ago. Final examination scores
from a random sample of students enrolled today and from a random sample of
students enrolled five years ago were selected. You are given the following information.
Today
Five Years Ago
82

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