ECON STATS Exam 2

Regression analysis was applied between sales date (y in $1,000s) and advertising data (x in $100s) and the following information was obtained. y=12+1.8x n=17 SSR=225 SSE=75 Sb1= .2683 Based on the above estimated regressionequation, if advertising is $3,000, then the point estimate for sales (in dollars) is

$66,000

In a regression analysis if SSE=200 and SSR=300, then the coefficient of determination is

.6000

In an analysis of variance problem involving 3 treatments and 10 observations per treatment, SSE=399.6. The MSE for this situation is

14.8

The critical F value with 8 numerator and 29 denominators degrees of freedom at a=.01 is

3.20

In a completely randomized design involving four treatments, the following information is provided: Sample Size: 50 18 15 17 Sample Mean: 32 38 42 48 The overall mean (the grand mean) for all treatments is

37.3

SSTR= 6,750 H0: u1=u2=u3=u4 SSE= 8,000Ha: at least one mean is different nt= 20 the test Statistic to test the null hypothesis equals

4.5

In the analysis of variance problem if SST=120 and SSTR=80, then SSE is

40

Regression analysis was applied between sales date (y in $1,000s) and advertising data (x in $100s) and the following information was obtained. y=12+1.8x n=17 SSR=225 SSE=75 Sb1= .2683 The F statistic computed from the above data is

45

The variable of interest in an ANOVA procedure is called

Factor

The F ratio in a completely randomized ANOVA is the ration of

MSTR/MSE

In a regression and correlation analysis if r^2=1, then

SSE must be equal to zero

in regression analysis, which of the following is not a required assumption about the error term 3

The expected value of the error term is one

SSTR= 6,750 H0: u1=u2=u3=u4 SSE= 8,000Ha: at least one mean is different nt= 20 The null hypothesis is to be tested at the 5% level of significance. the p-value is

between .01 and .025

Regression analysis was applied between demand for a product (y) and the price of the product (x), and the following estimated regression equation was obtained =120-10x Based on the above estimated regression equation, if price is increase by 2 units, the demand is expected to

decrease by 20 units

In the ANOVA, treatment refers to

different levels of a factor

A regresion analysis between sales (in $1000) and price (in dollars) resulted in the following equation =60-8x the above equation implies

increase of $1 in price is associated with a decrease of $8000 in sales

a least squares regression line

may be used to predict a value of y if the corresponding x value is given

In the analysis of variance, one estimate of o^2 is based upon the difference between the treatment means and the

overall sample mean

The mathematical equation relating the independent variable to the expected value of the dependent variable; that is, E(y)=B0+B1x is known as

regression equation

The equation that describes how the dependent variable (y) is related to the independent variable (x) is called

the regression model