QMB 3200 Final Exam Conceptual Questions & Answers | Verified by Experts 2024

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) - false A correlation coefficient of -0.80 is an indication of a weak negative relationship between two variables. (T/F) - false The formula for the equation describing a straight line is y hat = b0 + b1x. The value for b1 in this equation represents the ______________. - slope of the straight line The values of the correlation coefficient range between -1.0 and +1.0. (T/F) - true 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) - false Consider the relationship between the following variables: