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Business Stats Exam 4 Review – questions with Correct Answers
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Business Stats Exam 4 Review – questions with Correct Answers
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Business Stats Exam 4 Review –questions with Correct Answers
Excel and virtually all other statistical packages report the p-value ________. -
- for a two-tailed test that assesses whether the regression coefficient differs
from zero
- The accompanying table shows the regression results when estimating y =
β0 + β1x + ε.
Coefficients Standard Error T-Stat P-Value
Intercept 0.083 3.56 0.02 0.9822
X 1.417 0.63 2.25 0.0745
Is x significantly related to y at the 5% significance level? - - No, because the
p-value of 0.0745 is greater than 0.05.
- A marketing analyst wants to examine the relationship between sales (in
$1,000s) and advertising (in $100s) for firms in the food and beverage
industry and so collects monthly data for 25 firms. He estimates the model:
Sales = β0 + β1 Advertising + ε. The following table shows a portion of the
regression results.
Coefficients Standard Error T-Stat P-Value
Intercept 40.10 14.08 2.848 0.0052
Advertising 2.88 1.52 -1.895 0.0608
Which of the following are the competing hypotheses used to test whether
Advertising is significant in predicting Sales? - - H0:β1 = 0; HA:β1 ≠ 0.
- A marketing analyst wants to examine the relationship between sales (in
$1,000s) and advertising (in $100s) for firms in the food and beverage
industry and so collects monthly data for 25 firms. He estimates the model:
Sales = β0 + β1 Advertising + ε. The following table shows a portion of the
regression results.
Coefficients Standard Error T-Stat P-Value
Intercept 40.10 14.08 2.848 0.0052
Advertising 2.88 1.52 -1.895 0.0608
When testing whether Advertising is significant at the 10% significance level,
the conclusion is to ________. - - reject H0; we can conclude advertising is
significant
, - A sports analyst wants to exam the factors that may influence a tennis
player's chances of winning. Over four tournaments, he collects data on 30
tennis players and estimates the following model:
Win = β0 + β1 Double Faults + β2 Aces + ε, where Win is the proportion of
winning, Double Faults is the percentage of double faults made, and Aces is
the number of aces. A portion of the regression results are shown in the
accompanying table.
Df ss ms f significance f
Regression 2 1.24 .620 41.85 5.34E-09
Residual 27 0.40 .015
Total 29 1.64
Coefficients Standard Error T-Stat P-Value Lower 95 Upper 95
Intercept .451 .080 5.646 5.4E-06 .287 .614
Double -.007 .0024 -2.875 .0078 -.012 -.002
Aces .015 .003 4.65 7.8E-05 .008 .023
When testing whether the explanatory variables jointly influence the
response variable, the null hypothesis is ________. - - H0:β1 = β2 = 0
- The accompanying table shows the regression results when estimating y =
β0 + β1x1 + β2x2 + β3x3 + ε.
Df ss ms f significance f
Regression 3 453 151 5.03 .0030
Residual 85 2,521 30
Total 88 2,974
Coefficients Standard Error T-Stat P-Value
Intercept 14.96 3.08 4.86 0
X1 .04 .34 .12 .9066
X2 .87 .29 3 .0035
X3 .46 .22 2.09 .0400
When testing whether the explanatory variables are jointly significant at the
5% significance level, the conclusion is to ________. - - reject H0, and
conclude that the explanatory variables are jointly significant
- The accompanying table shows the regression results when estimating y =
β0 + β1x1 + β2x2 + β3x3 + ε.
Df ss ms f significance f
Regression 3 453 151 5.03 .0030
Residual 85 2,521 30
Total 88 2,974
Coefficients Standard Error T-Stat P-Value
Intercept 14.96 3.08 4.86 0
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