Exam (elaborations)
Bus 310 Final Exam Questions And Answers Latest Update
- Course
- BUS 310
- Institution
- University Of Southern California
Bus 310 Final Exam Questions And Answers Latest Update
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Solution 2024/2025Pepper
Bus 310 Final Exam Questions And Answers
Latest Update
INTERCEPT ANS✔✔ Predicted Y when X or all X's in Multiple regression = 0
SLOPE ANS✔✔ Concerned with how much Y changes as X increases
PREDICTED Y ANS✔✔ Concerned with the level of Y for given X or X's in
multiple regression
VIF ANS✔✔ A way of detecting multicollinearity (Values > 5 indicated that
the variable is closely related to other variables)
SCATTER DIAGRAM ANS✔✔ A graphic view of strenght
CORRELATION ANS✔✔ the ONLY MEASURE that show if the relationship is
DIRECT or INVERSE
R SQUARE ANS✔✔ Explains the variation of Y that is explained by ONE
independent variable.TELLS YOU WHAT PERCENTAGE OF VARIABILITY IN Y
CAN BE EXPLAINED BY THE EQUATION
ADJUSTED R SQUARE ANS✔✔ tells you what percentage of variability except
adjusted for number of variables
, Solution 2024/2025
Pepper
STANDARD ERROR ANS✔✔ give you the typical error in predicting
P-VALUE ANS✔✔ help you assess how confident you can be that the
equation or variable is useful in predicting Y
ASSUMPTION OF LINEARITY ANS✔✔ assumes that a straight line fits the data
better than a curved line. check a plot of RESIDUALS agains an
INDEPENDENT VARIABLE and see if the pattern looks random. if you see a
rainbow or smile shape, you have evidence that the linearity assumption is
NOT TRUE.
ASSUMPTION OF CONSTANT VARIABILITY ANS✔✔ assumes that errors in
predicting (residuals) are no bigger for large predictions than for small
predictions. Check a plot of RESIDUALS agains the PREDICTED VALUES and
see the pattern looks random. if you see the variability get larger as the
predicted value get larger (wedge shape) you have evidence that the
constant variability assumption is NOT TRUE.
ASSUMPTION OF NORMALITY ANS✔✔ Normality of residuals ensure that P-
VALUES and confidence intervals are accurate. Check a NORMAL
PROBABILITY PLOT of residuals and see if the pattern looks like a straight
line. if you see a curved line, you have evidence that the normality
assumption is not true.
NORMAL PROBABILITY PLOT ANS✔✔ One way of checking that residuals are
normal.
ASSUMPTION OF INDEPENDENCE ANS✔✔ check a plot of RESIDUALS against
the TIME SEQUENCE and see if the pattern looks random. if you see a snake
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