QMB 3200 Final Exam Conceptual Questions And Answers 100% Verified

QMB 3200 Final Exam Conceptual Questions And Answers 100% Verified Given a regression equation of y hat = 15.6 - 3.8x, a one-unit increase in the independent variable would result in an average increase of 3.8 for the dependent variable. (T/F) - answerfalse A correlation coefficient of -0.80 is an indication of a weak negative relationship between two variables. (T/F) - answerfalse The formula for the equation describing a straight line is y hat = b0 + b1x. The value for b1 in this equation represents the ______________. - answerslope of the straight line The values of the correlation coefficient range between -1.0 and +1.0. (T/F) - answertrue Consider the relationship between the following variables: - monthly electricity bill for a household during the summer - average high ambient temperature during the summer months Average high ambient temperature during the summer months would be considered the dependent variable. (T/F) - answerfalse Consider the relationship between the following variables: - household income - square footage of the primary residence Housing income would be considered the independent variable. (T/F) - answertrue The correlation coefficient is a measure of the slope of the scatter plot for the independent and dependent variables. (T/F) - answerfalse A relationship is linear if the scatter plot of the independent and dependent variables has a straight-line pattern. (T/F) - answertrue The slope value for a regression equatio