ISYE 6414 - UNIT 3 PART 2 EXAM 2024 WITH 100% ACCURATE SOLUTIONS
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ISYE 6414
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ISYE 6414
ISYE 6414 - UNIT 3 PART 2 EXAM 2024 WITH 100% ACCURATE SOLUTIONS
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ISYE 6414 - UNIT 3 PART 2 EXAM 2024 WITH 100% ACCURATE SOLUTIONS
What are the 4 assumptions of MLR? - Precise Answer ✔✔Linearity, Constant Variance, Independence, Normality
Do the estimated residuals have constant variance? - Precise Answer ✔✔No
Do the error terms have constant variance? - Precise Answer ✔✔Yes
To use the estimated residuals for assessing model assumptions, what do we need to do first? - Precise Answer ✔✔We need to standardize them
Plotting the residuals versus each predictor checks for which assumption? - Precise Answer ✔✔Linearity
Plotting the residuals versus fitted values checks for which assumption? - Precise Answer ✔✔Constant variance & Independence What does the QQ plot and histogram check for? - Precise Answer ✔✔Normality
Do we evaluate normality using residuals or the response variable? - Precise Answer ✔✔residuals
What are three ways we can transform the predicting variables? - Precise Answer ✔✔Power, Log, Polynomial transformations
What can we do if the Normality or Constant Variance assumption does not hold? - Precise Answer ✔✔We would transform the response variable. A common transformation is the Box-Cox transformation.
Box-cox transformation - Precise Answer ✔✔A common transformation is the power transformation y to the lambda used to improve the normality and/or constant variance assumption.
Outlier - Precise Answer ✔✔Any data point that is far from the majority from the data in both x and y
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