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2024 AC 547 FINAL EXAM WITH CORRECT ANSWERS
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2024 AC 547 FINAL EXAM WITH CORRECT ANSWERS
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AC 547 FinalStudy online at https://quizlet.com/_amk4u9
1. What type of correlation? low positive
2. What type of correlation? high positive
3. What type of correlation? low negative
4. What type of correlation? high negative
5. tells us the association between two variables and correlation
take values between -1 and 1.
6. Perfect positive correlation would be a value of ____. 1; 0; -1
Absolutely no correlation would be a value of ___.
Perfectly negative correlation would be a value of ___.
, AC 547 Final
Study online at https://quizlet.com/_amk4u9
7. When discussing correlation and regression, __ is x; y
the predictor variable and __ is the predicted variable.
8. In a regression model (y= B€ + B•X•µ) + B€
, is the intercept; unex-
_________. µis the__________ ________. B•, B‚, Bƒ, etc.
plained variation;
are _______. X•, X‚, Xƒ, etc. are ________ _______. slopes; predictor
variables
9. In a regression model, y is the predicted variable. regressand
Another name for this is the response variable or the
________.
10. In a regression model, x is the predictor variable. regressor
Another name for this is the explanatory variable or
the _______.
11. Pros of regression: simple and easy to use, estimates variables
quickly for large datasets, useful for models with
many variables, and flexible for linear and non-linear
______.
12. Cons of regression: sensitive to _______ and ______ outliers; model
dependent.
13. Two main models of regression predictive; causal
14. Model of regression to make guesses about future predictive
events using historical data. Ex: Estimate which au-
dits PCAOB might inspect using data from previous
inspections.
15. Model of regression used to test relations between causal
variables. Ex: Wanting to know if installing LED light
bulbs will reduce overhead costs.
16. What is this a picture of? Anscombe's
Quartet
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