Exam (elaborations)
BUAN 6337 EXAM 1 Questions with Correct Answer1
- Course
- Institution
BUAN 6337 EXAM 1 Questions with Correct Answer1
[Show more]
Content preview
BUAN 6337 EXAM 1 Questions with Correct AnswersLR Assumption - Error Independence Correct Answer-All e are
independent and not correlated with any independent variable X
LR Assumption - Error Distribution Correct Answer-All e follow a
normal identical distribution with zero mean and standard deviation
sigma e
Signs of multicollinearity between dependent variables Correct Answer-
Large estimated variances, t-test says that coeff is zero, incorrect signs,
Results of multicollinearity Correct Answer-Dropped variables that may
be significant despite t-test saying otherwise
Multicollinearity detection methods Correct Answer-Pairwise
correlation for independent variables, VIF, principal components
Multicollinearity Fixes Correct Answer-Collect more data, drop one or
more variables, use PCA to create non-collinear variables that capture
most of variance in original variables
Heteroscedasticity detection Correct Answer-Plot residuals, White's test
Heteroscedasticity fixes Correct Answer-Transform y variables, robust
SE, include additional independent variable terms to explain variance
, Unnormally distributed error tests Correct Answer-Plot residuals,
SW/KW tests, check for outliers
Unnormal distributed error fixes Correct Answer-Transform y variable
Nominal Correct Answer-Each value is a distinct category
Ordinal Correct Answer-Can be ordered low to high
Interval Correct Answer-Relative difference between values is
meaningful
Ratio Correct Answer-Absolute value is meaningful
Chi Square Test Correct Answer-Independence of categorical variables
Test of Proportions for Independent Samples Correct Answer-
Proportions are equal or not
One sided Test of Proportions Correct Answer-Use only when there is
prior reason to believe one proportion smaller than the other
Pearson Test of Correlation Correct Answer-Two Variables are linearly
independent
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller cracker. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now