BUSN FINAL STAND QUESTIONS AND ANSWERS
sqrt(.005)
[MS y residual x in given data set] - CORRECT ANSWER✅✅What is the typical size of a prediction error
from this model? (HW 7 Q 8F)
t.dist(-t stat, DF, true) *2 (unless one sided test)
VERY IMPORTANT TO MAKE T STATE NEGATIVE AND MULTIPLY BY TWO - CORRECT ANSWER✅✅how do
you find p-value in excel?
actual - expected
underestimate,
overestimate - CORRECT ANSWER✅✅residual equations (BUSN)
positive residual indicates: X units below the actual value
negative residual indicates: X units above the actual value
ok - CORRECT ANSWER✅✅when taking a BUSN test always double check your units
error residual x
DF y - CORRECT ANSWER✅✅(d) What are the error degrees of freedom of the model fit? (Enter your
answer as a whole number.)
ok - CORRECT ANSWER✅✅when doing stat questions from HW 6 if you are asked for a whole number
always round down
, time series data - CORRECT ANSWER✅✅have data on a single analysis unit (a company) measured at
multiple points in time
panel data - CORRECT ANSWER✅✅multiple analysis units over multiple points in time
cross sectional data - CORRECT ANSWER✅✅data on multiple analysis units (teams) measured at a
single point in time
1. find 2nd derivative (f")
2. plug critical values into second derivative, sign placement determines concavity - CORRECT
ANSWER✅✅(BUSN4000) steps to finding concavity points or inflection points
1. find first derivative (f')
2. find 0's or DNE
3. plug critical values and 0's or DNEs into first derivative (f')
4. find y's by plugging x's into original equation (f(x)) - CORRECT ANSWER✅✅(BUSN4000) finding
relative max or min
1. find f'
2. find 0's or DNEs
3. plug critical values back into OG equation
4. Xs and Ys are intuitive (step 3 gives y, step 2 gives x) - CORRECT ANSWER✅✅(BUSN4000) how to find
absolute max and min
1. find f'
2. find 0's or DNEs
3. plug critical points into first derivative - CORRECT ANSWER✅✅how to find where function is
increasing or decreasing
K-L , N-K-1
sqrt(.005)
[MS y residual x in given data set] - CORRECT ANSWER✅✅What is the typical size of a prediction error
from this model? (HW 7 Q 8F)
t.dist(-t stat, DF, true) *2 (unless one sided test)
VERY IMPORTANT TO MAKE T STATE NEGATIVE AND MULTIPLY BY TWO - CORRECT ANSWER✅✅how do
you find p-value in excel?
actual - expected
underestimate,
overestimate - CORRECT ANSWER✅✅residual equations (BUSN)
positive residual indicates: X units below the actual value
negative residual indicates: X units above the actual value
ok - CORRECT ANSWER✅✅when taking a BUSN test always double check your units
error residual x
DF y - CORRECT ANSWER✅✅(d) What are the error degrees of freedom of the model fit? (Enter your
answer as a whole number.)
ok - CORRECT ANSWER✅✅when doing stat questions from HW 6 if you are asked for a whole number
always round down
, time series data - CORRECT ANSWER✅✅have data on a single analysis unit (a company) measured at
multiple points in time
panel data - CORRECT ANSWER✅✅multiple analysis units over multiple points in time
cross sectional data - CORRECT ANSWER✅✅data on multiple analysis units (teams) measured at a
single point in time
1. find 2nd derivative (f")
2. plug critical values into second derivative, sign placement determines concavity - CORRECT
ANSWER✅✅(BUSN4000) steps to finding concavity points or inflection points
1. find first derivative (f')
2. find 0's or DNE
3. plug critical values and 0's or DNEs into first derivative (f')
4. find y's by plugging x's into original equation (f(x)) - CORRECT ANSWER✅✅(BUSN4000) finding
relative max or min
1. find f'
2. find 0's or DNEs
3. plug critical values back into OG equation
4. Xs and Ys are intuitive (step 3 gives y, step 2 gives x) - CORRECT ANSWER✅✅(BUSN4000) how to find
absolute max and min
1. find f'
2. find 0's or DNEs
3. plug critical points into first derivative - CORRECT ANSWER✅✅how to find where function is
increasing or decreasing
K-L , N-K-1
