BUS 211 Final Exam || All Answers are Valid.
All calculations are permitted on what type of data? correct answers Interval
What types of chart are fit to describe one interval variable? correct answers Histogram
Ogive
Box plot
When studying the responses to two nominal questions, we should develop a correct answers
Cross-clarification table
What values are displayed on a cumulative relative frequency distribution? correct answers The
proportion of observations that fall below each class interval
Scatterplot with strong linear relationship correct answers
The relationship between two interval variables is graphically displayed by a correct answers
Scatter diagram
A larger standard deviation of a normal distribution indicates that the distribution becomes
correct answers Flatter and wider
What proportion of the data from a normal distribution is within one standard deviations from
the mean? correct answers 0.6826
Suppose X has a distribution that is not normal. The Central Limit Theorem is important in this
case because: correct answers It says the sampling distribution of Xbar is approximately normal
if n is large enough
, A Type I error is committed if we make correct answers An incorrect decision when the null
hypothesis is true
A Type II error is committed if we make correct answers An incorrect decision when the null
hypothesis is false
A regression analysis between weight (y in pounds) and height (x in inches) resulted in the
following least squares line: y=80+5x . This implies that if the height is increased by 1 inch, the
weight, on average, is expected to: correct answers Increase by 5 pounds
A regression analysis between sales (in $1,000) and advertising (in $1,000) resulted in the
following least squares line: y=80+5x . This implies that: correct answers As advertising
increases by $1,000, sales increases by $5,000
In regression analysis, the residuals represent the correct answers Difference between the actual
y values and their predicted values
A multiple regression model has the form y=8+3x1+5x2-4x3. As x3 increases by one unit, with
x1 and x2 held constant, the y on average is expected to correct answers Decrease by 4 units
For the multiple regression model: y=75+25x1-15x2+10, if x2 were to increase by 5, holding x1
and x3 constant, the value of y will: correct answers Decrease on average by 75
Heteroskedasticity happens when correct answers The variance of one variable is different at
different values of the other variable
Multicollinearity happens when correct answers Two explanatory variables are directly related to
each other
Consider the regression Wage = b0+b1*GPA +b2*experience+ e. The variable IQ is omitted
from the regression because it's unobservable in the data. How does this affect the regression
All calculations are permitted on what type of data? correct answers Interval
What types of chart are fit to describe one interval variable? correct answers Histogram
Ogive
Box plot
When studying the responses to two nominal questions, we should develop a correct answers
Cross-clarification table
What values are displayed on a cumulative relative frequency distribution? correct answers The
proportion of observations that fall below each class interval
Scatterplot with strong linear relationship correct answers
The relationship between two interval variables is graphically displayed by a correct answers
Scatter diagram
A larger standard deviation of a normal distribution indicates that the distribution becomes
correct answers Flatter and wider
What proportion of the data from a normal distribution is within one standard deviations from
the mean? correct answers 0.6826
Suppose X has a distribution that is not normal. The Central Limit Theorem is important in this
case because: correct answers It says the sampling distribution of Xbar is approximately normal
if n is large enough
, A Type I error is committed if we make correct answers An incorrect decision when the null
hypothesis is true
A Type II error is committed if we make correct answers An incorrect decision when the null
hypothesis is false
A regression analysis between weight (y in pounds) and height (x in inches) resulted in the
following least squares line: y=80+5x . This implies that if the height is increased by 1 inch, the
weight, on average, is expected to: correct answers Increase by 5 pounds
A regression analysis between sales (in $1,000) and advertising (in $1,000) resulted in the
following least squares line: y=80+5x . This implies that: correct answers As advertising
increases by $1,000, sales increases by $5,000
In regression analysis, the residuals represent the correct answers Difference between the actual
y values and their predicted values
A multiple regression model has the form y=8+3x1+5x2-4x3. As x3 increases by one unit, with
x1 and x2 held constant, the y on average is expected to correct answers Decrease by 4 units
For the multiple regression model: y=75+25x1-15x2+10, if x2 were to increase by 5, holding x1
and x3 constant, the value of y will: correct answers Decrease on average by 75
Heteroskedasticity happens when correct answers The variance of one variable is different at
different values of the other variable
Multicollinearity happens when correct answers Two explanatory variables are directly related to
each other
Consider the regression Wage = b0+b1*GPA +b2*experience+ e. The variable IQ is omitted
from the regression because it's unobservable in the data. How does this affect the regression
