Math 534 homework - Study guides, Class notes & Summaries

1. Question:Arealestateanalysthasdevelopedamultipleregressionline,y=60+0.068x1–2.5x2,topredicty=themarketpriceofahome(in $1,000s),usingindependentvariables,x1=thetotalnumberofsquare feetoflivingspace,andx2=theageofthehouseinyears.The regressioncoefficientofx2suggeststhis: _____. 2. Question:Thefollowingisapartialcomputeroutputofamultipleregressionanalysis of a data set containing 20 sets of observations on thedependentvariable. Theregressionequationis SALEPRIC=1470+0.8145LANDVAL+0.8204IMP...

1. Question: Suppose you are an operations manager for a plant that manufactures batteries. Give an example of how you could use descriptive statistics to make better managerial decisions. Give an example of how you could use inferential statistics to make better managerial decisions.Say whether this or that example describes the use of descriptive or inferential statistics. 2. Question: Classify each of the following as nominal, ordinal, interval, or ratio data. 3. Question: For the following...

1. Question: In hypothesis testing the statistical conclusion is either to reject or not to reject the null hypothesis based on the sample data. Which of the following statements is true? 2. Question: If a company wants to prove that the proportion (p) of its revenues from overseas operations is more than 18%, the null and alternate hypotheses are __________. 3. Question: A test of the hypotheses, H0: p = 0.18 and H1: p > 0.18 is a _____________. 4. Question: The dean of a business school ...

1. Question: Scores on a certain exam are normally distributed with a mean of 90 and a variance of 25. What is the z-value for a score of 80? 2. Question: Scores on a certain exam are normally distributed with a mean of 90 and a variance of 25. What is the probability of obtaining a score less than 80? 3. Question: Which one of the following is not a characteristic of a normal distribution? 4. Question: If the z-value of a given x value is positive, it means that ___________. 5. Question: As...

1. Question: Is each item below an example of descriptive or inferential statistics? 2. Question: In each case, identify the type of data (or level of data): 3. Question: For the following frequency distribution: 4. Question: Assuming that the dataset 17, 15, 3, 22, 11, 7, 9 is a sample. 5. Question: The amount of time it takes a person to get ready for work has a bell shaped distribution. The average is 45 minutes and the standard deviation is 10 minutes. 6. Question: The range of a given ...

2 Determine the Pearson product-moment correlation coefficient for the following data.x 3 Given a set of paired data,{X,Y},if Y is independent of X , you would expect that the correlation

Week 1 Addendum: Homework/Quiz Review 1. Is each item below an example of descriptive or inferential statistics?  Take a sample of cars and test them to determine how many miles per gallon (mpg) they give. Use this sample to estimate the mpg of all cars. Answer: Inferential  To get an idea of student performance on a test, analyze the data in the gradebook about the test. Answer: Descriptive 2. In each case, identify the type of data (or level of data):  The dollar sales at t...

1. Question: A random sample of 100 selected from a population with a standard deviation of 10 yielded a mean = 225. The mean and the standard deviation of the distribution of the sample means are __________. 2. Question: Suppose a random sample of 49 is selected from a population of size N = 500 with a standard deviation of 14. If the sample mean is 125, the 99% confidence interval to estimate the population mean is between ____________. 3. Question: A manufacturer wants to purchase a certain...

1. Whichofthefollowingisnotanassumptionoftheregressionmodel? 2. Supposeforagivendatasettheregressionequationis:y=54.78+1.45x, and the point (0.00, 24.78) is in the data set. The residual forthispointis . 3. If the standard error of the estimate for a regression model fitted toalargenumberofpairedobservationsis1.75,approximately68%oftheresidualswouldliewithin . 4. Foraregressionmodely=30−2x,thecoefficientofdeterminationwasdeterminedasequalto0.81.Thecoefficientofcorrelationis