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BUAL 2650 exam 2 questions and solutions
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BUAL 2650 exam 2 questions and solutionsBUAL 2650 exam 2 questions and solutionsBUAL 2650 exam 2 questions and solutionsBUAL 2650 exam 2 questions and solutions

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  • April 15, 2025
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • bual 2650 exam 2 questions and solutions

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  • BUAL 2650 ex
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BUAL 2650 exam 2 questions and solutions


The Least Squares Approach - answers- Stastical technique to determine the line best fit for a model
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- looks for regression line that MINIMIZES the sum of the squared deviations (SS)
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Interpret B0 and B1 - answersB0: the y-intercept (value of y, when x=0) ne ne ne ne ne ne ne ne ne ne ne ne




B1: the slope (for every 1-unit increase in x, y increases/decreases by the slope(B1) )
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Correlation Coefficient = ? - answers"r" ne ne ne ne ne




Coefficient of Determination = ? - answers"r^2" ne ne ne ne ne ne




Facts about "r" (correlation coefficient) - answers- ranges from -1 to +1
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- **Measures STRENGTH OF ASSOCIATION
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* remember the graphs that represent the line as either + or -
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Facts about "r^2" (Coefficient of Determination) - answersmeasures the goodness of fit of the
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relationship between independent/dependent variables in a regression analysis
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The equation for "r^2" - answersr^2 = SSR / SST
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Where:
- SSR = sum of squared regressions
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-SST = Total of Sum Squares ne ne ne ne ne




The 4 Assumptions about ANOVA: - answers1. Residuals are NORMALLY DISTRIBUTED
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2. Residuals have a MEAN OF ZERO
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3. Residuals have CONSTANT VARIANCE
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4. Residuals are INDEPENDENT
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When residuals are NOT independent, what are they known as? - answersAuto-correlation
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Simple Linear Regression: Null and Alternative Hypothesis - answers(Null) H0: B1 = 0
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(alt) Ha: B1 does NOT equal to 1
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** we REJECT Ha when the p-value is < 0 (less than 0)
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In Simple Linear Regression, we use Null and Alt. Hypo. for testing .....? - answersTesting t-ratio,
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which is the number of standard deviations between the slope and a slope = to 0.
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