MGSC 291 Exam 3 Study Guide Questions and Correct
Answers.
increasing the sample size will usually yield a ___________ confidence interval - ✔✔✔
narrower
increasing the confidence level will yield a _____________ confidence interval - ✔✔✔
wider
a small p-value indicates evidence for the _____________ hypothesis - ✔✔✔ alternative
the p-value for the f-test in the anova box is 0.01. this means: - ✔✔✔ at least one predictor
is important to the model
the r-square for the regression is 0.346 and the adjusted r-square is 0.271. this means that:
- ✔✔✔ there is a weak predictor in the model
the p-value for size*fireplace is 0.462, meaning that: - ✔✔✔ the interaction is not significant
you find that one of the interactions is not significant. what is the next step for the
regression? - ✔✔✔ remove the interaction and re-run the regression
the residual standard error is 62.39091 - interpret the standard error for the regression -
✔✔✔ predictions of assessed value tend to be off by $62,390.91, in general
the estimated coefficient for "period" is -.71687. interpret the coefficient: - ✔✔✔ as period
increases by 1, we expect the percent of summoned jurors to decrease by .72, after
accounting for year.
the p-value for period is 0.000005, meaning that the period is: - ✔✔✔ highly significant
when using a regression model for prediction, one should be concerned with: - ✔✔✔
minimizing standard error of the regression
you run a multiple regression that has a low p-value for the f-test, and large p-values for
each of the predictors. you should suggest: - ✔✔✔ collinearity
collinearity is important to diagnose if you are: - ✔✔✔ interpreting the regression
coefficients
you run a multiple regression with 2 predictors. one has a high p-value and the other has a
low p-value. you should conclude that: - ✔✔✔ the term with the high p-value might be
better for predicting the response
Answers.
increasing the sample size will usually yield a ___________ confidence interval - ✔✔✔
narrower
increasing the confidence level will yield a _____________ confidence interval - ✔✔✔
wider
a small p-value indicates evidence for the _____________ hypothesis - ✔✔✔ alternative
the p-value for the f-test in the anova box is 0.01. this means: - ✔✔✔ at least one predictor
is important to the model
the r-square for the regression is 0.346 and the adjusted r-square is 0.271. this means that:
- ✔✔✔ there is a weak predictor in the model
the p-value for size*fireplace is 0.462, meaning that: - ✔✔✔ the interaction is not significant
you find that one of the interactions is not significant. what is the next step for the
regression? - ✔✔✔ remove the interaction and re-run the regression
the residual standard error is 62.39091 - interpret the standard error for the regression -
✔✔✔ predictions of assessed value tend to be off by $62,390.91, in general
the estimated coefficient for "period" is -.71687. interpret the coefficient: - ✔✔✔ as period
increases by 1, we expect the percent of summoned jurors to decrease by .72, after
accounting for year.
the p-value for period is 0.000005, meaning that the period is: - ✔✔✔ highly significant
when using a regression model for prediction, one should be concerned with: - ✔✔✔
minimizing standard error of the regression
you run a multiple regression that has a low p-value for the f-test, and large p-values for
each of the predictors. you should suggest: - ✔✔✔ collinearity
collinearity is important to diagnose if you are: - ✔✔✔ interpreting the regression
coefficients
you run a multiple regression with 2 predictors. one has a high p-value and the other has a
low p-value. you should conclude that: - ✔✔✔ the term with the high p-value might be
better for predicting the response
