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WPC 300 ACTUAL EXAM QUESTIONS WITH REVISED ANSWERS ALL CORRECT

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WPC 300 ACTUAL EXAM QUESTIONS WITH REVISED ANSWERS ALL CORRECT What would be the null hypothesis for testing a linear regression model with profit as the dependent variable and sales as the independent variable? - Answer- There is no linear relationship between profit and sales Which of the ...

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  • 21 oktober 2024
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WPC 300 ACTUAL EXAM QUESTIONS
WITH REVISED ANSWERS ALL
CORRECT

What would be the null hypothesis for testing a linear regression model with profit as the
dependent variable and sales as the independent variable? - Answer- There is no linear
relationship between profit and sales

Which of the following assumptions is not true for multiple linear regression? - Answer-
There will be a multi-collinearity effect

A market analyst is developing a regression model to predict monthly household
expenditures on groceries as a function of family size, household income, and
household neighborhood. The neighborhood variable in this model is ________. -
Answer- an independent variable

A correlation coefficient between "college entrance exam" grades and scholastic
achievement was found to be -1.08. On the basis of this, you would tell the university
that: - Answer- They should hire a new statistician

A manager wishes to predict the annual cost (y) of an automobile based on the number
of miles (x) driven. The following model was developed: y = $1500 + 0.36x. If a car is
driven 15000 miles in a year, the model predicts the annual cost of the car to be -
Answer- $6900

The correlation coefficient between the age of a vehicle and the money spent to repair it
is 0.9. Which of the following statement is true? - Answer- 81% of the variation in the
money spent on repairs is explained by the age of the vehicle.

If you want to find out if body weight, calorie intake, fat intake, and age have an
influence on the probability of having a heart attack, which of the following kind of
analysis will help determine the answer? - Answer- Multiple logistic regression

In logistic regression, the dependent variable y is defined as: - Answer- Log (p/1-p)

In logistic regression analysis, instead of Y as a dependent variable, we use a function
of Y called - Answer- logit

logistic regression is a specialized type of regression analysis that is designed to predict
________ variables. - Answer- a binary categorical

, Odds ratio is defined as __________, where p is the probability of success. - Answer-
p/1-p

A loan officer wants to know if the next customer is likely to default or not on a loan.
How can she assess the risk of extending the loan to that customer? - Answer- By
utilizing a multiple logistic regression model developed by an in-house analyst

The _________ is often used to describe the performance of a classification model
applied to a set of test data for which the true outcomes are known. - Answer-
Confusion matrix

In classification analysis, we are determining the probability of an observation _______.
- Answer- to be part of a certain class or not

In classification problems, the primary source for accuracy estimation of the model is
________. - Answer- confusion matrix

In William Playfair's Line Chart, which two parameters did he chart? - Answer- National
debt vs Time

William Playfair is credited for inventing which type of chart? - Answer- bar chart

What best describes the nature of a rose diagram? - Answer- Plots data using a circular
historical plot

Visualizing data is which kind of analytical technique? - Answer- descriptive

Which of the following is true about interpretation? - Answer- None of the answers are
correct

When we utilize a visualization on paper/screen, that visualization is limited to exploring:
- Answer- As many variables as we can coherently communicate in 2 dimensions

Which is true among the following statements on visualization? - Answer- Visual data
enables the reader to see trends and dependencies

The primary statistical model result should focus on all the answers below except -
Answer- data cleaning

what is data visualization? - Answer- process of graphically representing information
and data

which of the following statements is false with regard to interpretation? - Answer- we
cant refine a model after interpreting its results

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