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OMGT 3223 Exam 4 Questions and Answers
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OMGT 3223 Exam 4 Questions and Answers
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OMGT 3223 Exam 4 Questions andAnswers
What is Linear Regression? - Answer-a forecasting technique used in business to
predict companies' futures
Why do we use Linear Regression modeling? - Answer-helps determine the relationship
between the dependent variable (y) and the independent variable (x)
Observational setting - Answer-a researcher is attempting to record what the subject
does. No manipulation of the subject is conducted
Experimental Setting - Answer-the researcher is manipulated of the subject and
subsequently observing how the subject behaves
What is a Population - Answer-refers to the collection of all the items in a group; it is the
entire item under consideration
What is a Sample - Answer-refers to a smaller subgroup
Why do we prefer to use Sample vs Population - Answer-Takes less time
, Less costly, Is more practical to handle
What is Primary Data - Answer-Are the original data collected by a researcher for the
first time.
Examples of Primary data - Answer-surveys, experiments or interviews
What is Secondary Data - Answer-Are data received literally second hand from
someone else
examples of Secondary data - Answer-Economic indicators
Economic indicators handbook
Statistical abstract of the US
Business statistics of the US
What are scatter Plots - Answer-is a two dimensional graph in x and y
when does multicollinearity exists - Answer-two or more variables are highly correlated.
When does Heteroscedasticity exist - Answer-the residuals of a linear regression model
don't have a constant variance
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