QMB 3200 FINAL EXAM

QMB 3200 FINAL EXAM

1. we are 95% confident that the mean y, with _________, falls between

(upper value) and (lower value) - CORRECT REPLY>>> -
Confidence interval interpretation



2. mean of all units - CORRECT REPLY>>> -A confidence
interval interpretation applies to the



3. for every 1 unit increase in x1, y will either increase or decrease -

CORRECT REPLY>>> -slope interpretation

4. in repeated sampling, 95% of all similarly constructed intervals will

contain the true mean of all _____________ - CORRECT
REPLY>>> -theoretical confidence interval interpretation

5. in repeated sampling, 95% of all similarly constructed intervals will

contain the true mean of ___________ - CORRECT
REPLY>>> -prediction interval interpretation

, 6. approximately 95% of actual values will fall within 2s of their predicted

values - CORRECT REPLY>>> -standard deviation
interpretation



7. about _______ % of the sample variation in prices can be explained by

the simple linear model. - CORRECT REPLY>>> -R2 practical
interpretation/ coefficient of determination



1. errors are independent
2. mean error=0
3. errors are normally distributed

4. variance of the errors is constant for all x-values - CORRECT
REPLY>>> -4 standard error regression assumptions

8. coefficient on p/o #4 - CORRECT REPLY>>> -always look at
___________ to determine positive or negative linear relationship



9. a very high value for 2s - CORRECT REPLY>>> -what could
prevent you from recommending the model as a predictor of y?



10.independence - CORRECT REPLY>>> -chi-squared test can
be used for determining