BSIS FINAL EXAM QUESTIONS &
UPDATED CORRECT ANSWERS
PASSED 100%
Simple linear regression refers to the type of regression analysis for which the
relationship between the independent variable and dependent variable are
approximated by a(n) - Correct Answer ✔✔ straight line.
________ functions search for a corresponding value in a defined range of cells located
in another part of the workbook. - Correct Answer ✔✔ Lookup
The study of how a dependent variable y is related to two or more independent
variables is called - Correct Answer ✔✔ multiple linear regression.
The _____ is the range of values of the independent variables in the data used to
estimate the regression model. - Correct Answer ✔✔ experimental region
A variable used to model the effect of categorical independent variables is called a(n) -
Correct Answer ✔✔ dummy variable.
In the simple linear regression equation, the parameter represents the _____ of the true
regression line. - Correct Answer ✔✔ y-intercept
Which of the following options is NOT an iterative variable selection procedure? -
Correct Answer ✔✔ best subsets regression.
The phenomenon by which the value of an estimate generally gets closer to the value of
the parameter being estimated as the sample size grows is called the _____. - Correct
Answer ✔✔ law of large numbers
When we use the estimated regression equation to develop an interval that can be used
to predict the mean for ALL units that meet a particular set of given criteria, that interval
is called a - Correct Answer ✔✔ confidence interval.
The tests of significance in regression analysis are based on assumptions about the
error term ε. One such assumption is that the error term ε is a random variable with a
mean or expected value of - Correct Answer ✔✔ 0.
Which statement is NOT true of influence diagrams? - Correct Answer ✔✔ The
influence diagram is a means of gaining influence over competitors.
, A(n) ________ refers to a measurable factor that defines a characteristic of a
population, process, or system. - Correct Answer ✔✔ parameter
The coefficient of determination - Correct Answer ✔✔ is defined as SSR/SST.
A(n) _______ is a visual representation that shows which entities affect others in a
model. - Correct Answer ✔✔ influence diagram
If a residual plot of x verses the residuals, , shows a non-linear pattern, then we should
conclude that - Correct Answer ✔✔ the regression model is not an adequate
representation of the relationship between the variables.
The mathematical equation relating the expected value of the dependent variable to the
value of the independent variables, which has the form of is called - Correct Answer ✔✔
a multiple regression model.
Which formula is used for counting cells where the value in column "D" is at least
$70,000? - Correct Answer ✔✔ =COUNTIF(D2:D17,">=70000")
The tests of significance in regression analysis are based on assumptions about the
error term ε. One such assumption is that the values of ε are - Correct Answer ✔✔
independent.
The following table is used to look up information on a specific product. The Product ID
is entered into cell B2 and the information is returned in the shaded box. To return the
information for the Product named in B2, the formula in cell C5 would be
=LOOKUP($B$2,$A$14:$F$44,3,FALSE). - Correct Answer ✔✔ False. The formula is
=VLOOKUP(value, table, index, range).
When the mean value of the response variable is independent of variation in the
predictor variable, the slope of the regression line is - Correct Answer ✔✔ zero.
When determining the best estimated regression equation to model a set of data, the
procedure that uses an iterative variable selection procedure that considers adding an
independent variable and removing an independent variable at each step is called -
Correct Answer ✔✔ stepwise selection.
_____ is a statistical procedure used to develop an equation showing how two variables
are related. - Correct Answer ✔✔ Regression analysis
Which of the following is a logical function that will add values in multiple ranges that
meet multiple criteria? - Correct Answer ✔✔ SUMIF
When there are many independent variables to consider, special procedures are
sometimes employed to select the independent variables to include in the regression
UPDATED CORRECT ANSWERS
PASSED 100%
Simple linear regression refers to the type of regression analysis for which the
relationship between the independent variable and dependent variable are
approximated by a(n) - Correct Answer ✔✔ straight line.
________ functions search for a corresponding value in a defined range of cells located
in another part of the workbook. - Correct Answer ✔✔ Lookup
The study of how a dependent variable y is related to two or more independent
variables is called - Correct Answer ✔✔ multiple linear regression.
The _____ is the range of values of the independent variables in the data used to
estimate the regression model. - Correct Answer ✔✔ experimental region
A variable used to model the effect of categorical independent variables is called a(n) -
Correct Answer ✔✔ dummy variable.
In the simple linear regression equation, the parameter represents the _____ of the true
regression line. - Correct Answer ✔✔ y-intercept
Which of the following options is NOT an iterative variable selection procedure? -
Correct Answer ✔✔ best subsets regression.
The phenomenon by which the value of an estimate generally gets closer to the value of
the parameter being estimated as the sample size grows is called the _____. - Correct
Answer ✔✔ law of large numbers
When we use the estimated regression equation to develop an interval that can be used
to predict the mean for ALL units that meet a particular set of given criteria, that interval
is called a - Correct Answer ✔✔ confidence interval.
The tests of significance in regression analysis are based on assumptions about the
error term ε. One such assumption is that the error term ε is a random variable with a
mean or expected value of - Correct Answer ✔✔ 0.
Which statement is NOT true of influence diagrams? - Correct Answer ✔✔ The
influence diagram is a means of gaining influence over competitors.
, A(n) ________ refers to a measurable factor that defines a characteristic of a
population, process, or system. - Correct Answer ✔✔ parameter
The coefficient of determination - Correct Answer ✔✔ is defined as SSR/SST.
A(n) _______ is a visual representation that shows which entities affect others in a
model. - Correct Answer ✔✔ influence diagram
If a residual plot of x verses the residuals, , shows a non-linear pattern, then we should
conclude that - Correct Answer ✔✔ the regression model is not an adequate
representation of the relationship between the variables.
The mathematical equation relating the expected value of the dependent variable to the
value of the independent variables, which has the form of is called - Correct Answer ✔✔
a multiple regression model.
Which formula is used for counting cells where the value in column "D" is at least
$70,000? - Correct Answer ✔✔ =COUNTIF(D2:D17,">=70000")
The tests of significance in regression analysis are based on assumptions about the
error term ε. One such assumption is that the values of ε are - Correct Answer ✔✔
independent.
The following table is used to look up information on a specific product. The Product ID
is entered into cell B2 and the information is returned in the shaded box. To return the
information for the Product named in B2, the formula in cell C5 would be
=LOOKUP($B$2,$A$14:$F$44,3,FALSE). - Correct Answer ✔✔ False. The formula is
=VLOOKUP(value, table, index, range).
When the mean value of the response variable is independent of variation in the
predictor variable, the slope of the regression line is - Correct Answer ✔✔ zero.
When determining the best estimated regression equation to model a set of data, the
procedure that uses an iterative variable selection procedure that considers adding an
independent variable and removing an independent variable at each step is called -
Correct Answer ✔✔ stepwise selection.
_____ is a statistical procedure used to develop an equation showing how two variables
are related. - Correct Answer ✔✔ Regression analysis
Which of the following is a logical function that will add values in multiple ranges that
meet multiple criteria? - Correct Answer ✔✔ SUMIF
When there are many independent variables to consider, special procedures are
sometimes employed to select the independent variables to include in the regression
