OMGT 3223 QUESTIONS AND ANSWERS
2026 NEWEST UPDATED 100% CORRECT
Simple Linear regression - ANSWER>(aka Bivariate regression) generates a linear equation that best fits the
observed data to a single independent or predictor variable.
Multiple linear regression - ANSWER>generates a linear equation that best fits the observed data to multiple
independent or predictor variables.
Correlation coefficient (R) - ANSWER>R--> [-1,1}
Correlation represents a measure of the strength of the relationship between the independent and the dependent
variable(s). Correlation is measured by the correlation coefficient.
Interpretation: The correlation coefficient, r, measures the strength AND direction of a linear relationship
Coefficient of determination (R^2) - ANSWER>The coefficient of determination (denoted R^2) represents a
measurement of the variability of the data around the
regression line.
R^2 is a standard way to measure the "fit" of the regression model.
, Interpretation: The coefficient of determination, R^2, measures the proportion of the total variation in y that is
explained by the regression line, i.e., R2 measures the percentage of variation in the dependent variable y resulting
from changes in the independent variable x.
Data Analysis add-in - ANSWER>can be used to develop and evaluate a simple linear regression model
Intercept - ANSWER>Excel function that can be used to estimate a simple regression line
Slope - ANSWER>Excel function that can be used to estimate a simple regression line
Correl (R) - ANSWER>Excel function can be used to evaluate a simple linear regression model
RSQ (R^2) - ANSWER>Excel function can be used to evaluate a simple linear regression model
Adjusted R^2 - ANSWER>Adjusted R2 is a measure similar to R2. The Adjusted R2 adjusts the R2 down, adding a
penalty for including more independent variables. We need the Adjusted R2 because adding more predictor
variables will always make R2 increase (or at least stay the same!)
2026 NEWEST UPDATED 100% CORRECT
Simple Linear regression - ANSWER>(aka Bivariate regression) generates a linear equation that best fits the
observed data to a single independent or predictor variable.
Multiple linear regression - ANSWER>generates a linear equation that best fits the observed data to multiple
independent or predictor variables.
Correlation coefficient (R) - ANSWER>R--> [-1,1}
Correlation represents a measure of the strength of the relationship between the independent and the dependent
variable(s). Correlation is measured by the correlation coefficient.
Interpretation: The correlation coefficient, r, measures the strength AND direction of a linear relationship
Coefficient of determination (R^2) - ANSWER>The coefficient of determination (denoted R^2) represents a
measurement of the variability of the data around the
regression line.
R^2 is a standard way to measure the "fit" of the regression model.
, Interpretation: The coefficient of determination, R^2, measures the proportion of the total variation in y that is
explained by the regression line, i.e., R2 measures the percentage of variation in the dependent variable y resulting
from changes in the independent variable x.
Data Analysis add-in - ANSWER>can be used to develop and evaluate a simple linear regression model
Intercept - ANSWER>Excel function that can be used to estimate a simple regression line
Slope - ANSWER>Excel function that can be used to estimate a simple regression line
Correl (R) - ANSWER>Excel function can be used to evaluate a simple linear regression model
RSQ (R^2) - ANSWER>Excel function can be used to evaluate a simple linear regression model
Adjusted R^2 - ANSWER>Adjusted R2 is a measure similar to R2. The Adjusted R2 adjusts the R2 down, adding a
penalty for including more independent variables. We need the Adjusted R2 because adding more predictor
variables will always make R2 increase (or at least stay the same!)
