QBA Exam 1 Practice Exam Questions and answers 2024

a variable used to describe, predict, and control the dependent variable - ANSWER-independent variable the difference between the observed value of the dependent variable and the corresponding predicted value of the dependent variable - ANSWER-residual a quantity that measures the amount of total variation in the observed values of y that is not explained by the predictor variable x - ANSWER-unexplained variation the variable that is being described, predicted, or controlled - ANSWER-dependent variable what is the appropriate symbol for the sample correlation coefficient? - ANSWER-r the difference between an individual value of the dependent variable and the corresponding mean value of the dependent variable - ANSWER-error term the point estimates of the slope and y intercept of the simple linear regression model that minimize the sum of squared residuals - ANSWER-least squares point estimates a measure of the linear association between two variables - ANSWER-simple correlation coefficien