QUESTIONS AND ANSWERS SURE A+
✔✔The dependent variable - ✔✔A manager uses a linear regression to examine how
the store's retail sales are predicted by advertising expenditures.
What will retail sales represent in this regression?
✔✔Sales of $45,432 - ✔✔An analyst used multiple linear regression to explore how
Store A's sales ( y) are predicted by Store A's advertising expenditure dollars (variable
x1) and the advertising expenditure dollars of Store A's competitor (variable x2).
The estimated regression is y = 532 + 80.5 x1 - 35.6 x2.
Which scenario would be predicted if x1 is $1,000 and x2 is also $1,000?
✔✔R-squared - ✔✔A company decides to auction excess inventory on an auction
website. They have performed a regression analysis to identify how the length of the
auction impacts the final price.
Which statistic indicates the strength of the relationship between the length of auctions
and final price?
, ✔✔Autocorrelation - ✔✔A researcher looks at moving average data on store sales and
wishes to perform a multiple regression of interest rates and disposable income.
What is a particular concern when performing time series multiple regression?
✔✔Seasonality - ✔✔A retail store notices a spike in turkey sales every November.
Which time series pattern are turkey sales likely to exhibit?
✔✔Ordinary least squares regression - ✔✔A researcher wants to predict test scores
based upon hours spent studying.
Which type of regression would be more appropriate?
✔✔To measure the spread of the data - ✔✔A doctoral student is surveying chief
executive officers (CEOs) to understand their relationships with their governing boards.
The student receives responses to a survey with ten questions that rates the respective
relationships.
Why would the student measure the standard deviation of responses?
✔✔Scatter plot - ✔✔A doctoral student is surveying chief executive officers (CEOs) to
understand their relationships with their governing boards. The student determines the
years of business experience for each CEO as well as their rating, on a 10-point scale,
of satisfaction with the governing board.
Which statistical approach should be used to display the data for analysis?
✔✔Decisions reduce external bias.
Decisions foster trust in plans. - ✔✔Which two decision considerations describe fact-
based decision making, according to the quality management principles?
Choose 2 answers
✔✔Plan - ✔✔An organization is concerned about whether quality control standards are
being met and develops a strategy to test quality control metrics.
Which step does this represent in the Plan-Do-Check-Act cycle?
✔✔Focuses on training - ✔✔Which phrase is a description of quality assurance?
✔✔It provides a holistic view of the entire operation. - ✔✔A joint venture is established
between two firms to use their core competencies to increase their market share.