Question 1. A large school district is reevaluating its
teachers’ salaries. They have decided to use regression analysis to predict
mean teachers’ salaries at each elementary school. The researcher uses years of
experience to predict salary. The resulting regression equation was:
Y = 23,313.22 + 1,210.89X, where Y = salary, X = years of
experience
Based on this equation, by how much could a teacher expect
his or her salary to increase for every additional tear of service?
$1,210.89X
$1,210.89
$1,210.89 + X
$23,313.22
Question 2. A large school district is
reevaluating its teachers’ salaries. They have decided to use regression
analysis to predict mean teachers’ salaries at each elementary school. The
researcher uses years of experience to predict salary. The resulting regression
equation was:
Y = 23,313.22 + 1,210.89X, where Y = salary, X = years of
experience
Assume a teacher has ten years of experience.
What is the forecasted salary?
$35,422.12
$34,522.12
$35,683.48
$36,583.48
Points Received: 0 of 3
Question 3. A large school district is
reevaluating its teachers’ salaries. They have decided to use regression
analysis to predict mean teachers’ salaries at each elementary school. The
researcher uses years of experience to predict salary. The resulting regression
equation was:
Y = 23,313.22 + 1,210.89X, where Y = salary, X = years of
experience
Assume a teacher has five years of experience. What is the
forecasted salary?
$29,337.22
$29,337.67
$29,367.22
$29,367.67
Question 4. The coefficients of each
independent variable in a multiple regression model represent slopes.
True
False
Question 5. Which of the following
statements is false concerning the hypothesis testing procedure for a
regression model?
The F-test statistic is used.
The null hypothesis is that the true slope
coefficient is equal to zero.
The null hypothesis is rejected if the
adjusted r2 is above the critical value
An ? level must be selected.
The alternative hypothesis is that the true
slope coefficient is not equal to zero.
Question 6. A scatter diagram is a graphical
depiction of the relationship between the dependent and independent variables.
True
False
Question 7. Time-series models attempt to
predict the future by using historical data.
True
False
Question 8. Scatter diagrams can be useful
in spotting trends or cycles in data over time.
True
False
Question 9. If computing a causal linear
regression model of Y = a + bX and the resultant r2 is very near zero, then one
would be able to conclude that:
Y = a + bX is a good forecasting method.
Y = a + bX is not a good forecasting method.
a multiple linear regression model is a good
forecasting method for the data.
a multiple linear regression model is not a
good forecasting method for the data.
Question 10. An air conditioning and heating
repair firm conducted a study to determine if the average outside temperature,
thickness of the insulation, and age of the heating equipment could be used to
predict the electric bill for a home during the winter months in Houston,
Texas. The resulting regression equation was:
Y = 256.89 – 1.45X1 – 11.26X2 + 6.10X3, where Y = monthly
cost, X1 = average temperature, X2 = insulation thickness, and X3 = age of
heating equipment
Assume December has an average temperature of 45 degrees and
the heater is 2 years old with insulation that is 6 inches thick.
What is the forecasted monthly electric bill?
$111.88
$127.72
$136.28
$205.72
