MGT 6203_Self Assessment 1 _ Solutions (ALL ANSWERS ARE CORRECT)

Week 1

1. In Ordinary Least Squares we are trying to minimize:
a. The Median Absolute Error
b. The Mean Absolute Error
c. The Sum of Squared Error
d. The Root Mean Squared Error
2. The following formula is which of the following:

2
∑(𝑦̅ − 𝑦̂)
𝑖
𝑖

a. Sum of Squared Total
b. Sum of Squared Errors
c. Sum of Squared Regression
d. Total Sum of Squares

Week 2

1. An indicator variable is sometimes referred to as a:
a. Hyperparameter
b. Dummy variable
c. Interaction variable
d. Continuous predictor variable
2. Which of the following is an example of an Interaction Term?
a. Height*Gender
b. 𝐻𝑒𝑖𝑔ℎ𝑡 2
c. Height - Gender
d. Height + Gender
3. If your dataset has a column that contained one of three states for each observation ('New
York', 'California', 'Hawaii'), what would be the best way to code them for a regression model
with one-hot encoding (not using a factor variable in R)?
a.
Obs States
1 'New York'
2 'California'
3 'Hawaii'

b.

Obs States
1 1
2 2
3 3
c.




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