decisions exam 2

The tests of significance in regression analysis are based on assumptions about the error term ε. One such assumption is that the error term ε is a random variable with a mean or expected value of

0

__________ is a statistical procedure used to develop an equation showing how two variables are related.

Regression analysis

In the simple linear regression equation, the parameter B0 represents the _____ of the true regression line.

Y-Intercept

The _____ is the range of values of the independent variables in the data used to estimate the regression model.

experimental region

Simple linear regression refers to the type of regression analysis for which the relationship between the independent variable and dependent variable are approximated by a(n)

exponential curve.

A bubble chart is a graphical presentation that

has two axes that represent two variables, and the magnitude of the third variable is given by the size of the bubble.

The tests of significance in regression analysis are based on assumptions about the error term ε. One such assumption is that the error term ε follows a ________ distribution for all values of x.

normal

The difference between the observed value of the dependent variable and the value predicted using the estimated regression equation is known as the

residual.

A _____ is used to visualize sample data graphically and to draw preliminary conclusions about the possible relationship between the variables.

scatter chart

To better understand the relationship between advertising dollars spent and the subsequent sales, I could create a ________________ chart.

scatter chart

Regression analysis involving one independent variable and one dependent variable is referred to as

simple linear regression.

Which of the following can be used to show overall trend?

sparklines

The process of making estimates and drawing conclusions about one or more characteristics of a population through analysis of sample data drawn from the population is known as

statistical inference.

When determining the best estimated regression equation to model a set of data, the procedure that uses an iterative variable selection procedure that considers adding an independent variable and removing an independent variable at each step is called

stepwise selection.

The _____ is a measure of the error that results from using the estimated regression equation to predict the values of the dependent variable in a sample.

sum of squares due to error (SSE)

The procedure of using sample data to find the estimated regression equation is better known as

the least squares method.

Increasing the "white space" in a table by removing unnecessary lines increases all of the following except

the table's size.

Which of the following types of graphs is useful for visualizing hierarchical data along multiple dimensions?

treemap

An approximation of the linear relationship between variables in a chart can be represented with a

trendline.

A Dashboard is a visualization tool that

updates in real time and gives multiple outputs.

_____ refers to the use of sample data to calculate a range of values that is believed to include the unknown value of a population parameter.

Interval estimation

Edward Tufte introduced the idea of the data-ink ratio, as a way of quantifying the proportion of "data-ink" to the total amount of ink used in a table or chart. Which of the following options would increase the data-ink ratio of a table?

adding a title to the table

The KPIs displayed in a data dashboard should do all of the following except

be displayed across multiple screens.

Which of the following options guarantees that the best model for a given number of variables will be found?

best subsets regression.

Which of the following options is NOT an iterative variable selection procedure?

best subsets regression.

Natalie needs to compare values across different categories. Which of the following charts should Natalie use?

column (bar) chart

When we use the estimated regression equation to develop an interval that can be used to predict the mean for ALL units that meet a particular set of given criteria, that interval is called a

confidence interval.

A tabular summary of data for two variables is referred to as a

crosstabulation.

A variable used to model the effect of categorical independent variables is called a

dummy variable.

In the simple linear regression model, the ________ accounts for the variability in the dependent variable that cannot be explained by the linear relationship between x and y.

error term

The process of making conjecture about the value of a population parameter, collecting sample data that can be used to assess this conjecture, measuring the strength of the evidence against the conjecture that is provided by the sample, and using these results to draw a conclusion about the conjecture is known as

hypothesis testing.

The tests of significance in regression analysis are based on assumptions about the error term ε. One such assumption is that the values of ε are

independent.

A PivotTable

is a crosstabulation created in Excel that is interactive.

A PivotChart

is a graphical presentation created in Excel that functions similar to a PivotTable.

A Key Performance Indicator (KPI)

is a metric that is crucial for understanding the current performance of an organization

DJ needs to display data over time. Which of the following charts should DJ use?

line chart

A Geographic Information System (GIS)

merges maps and statistics to present data collected over different geographies.

The study of how a dependent variable y is related to two or more independent variables is called

multiple linear regression.

When there are many independent variables to consider, special procedures are sometimes employed to select the independent variables to include in the regression model. All of the following are examples of variable selection procedures except for

overfitting.

A graphical presentation used to examine more than two variables in which each variable is represented by a different vertical axis is called a

parallel coordinates plot.

A(n) ________ refers to a measurable factor that defines a characteristic of a population, process, or system.

parameter

A crosstabulation in Excel is called a

pivot table.

When we use the estimated regression equation to develop an interval that can be used to predict the mean for a specific unit that meets a particular set of given criteria, that interval is called a

prediction interval.

What type of regression model should be used when there is a nonlinear relationship between the independent and dependent variables which is fit by including the independent variable and the square of the independent variable?

quadratic regression model

A bar chart is a graphical presentation that

uses horizontal bars to display the magnitude of quantitative data.

When the mean value of the response variable is independent of variation in the predictor variable, the slope of the regression line is

zero.