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Statistical Analysis

In: Business and Management

Submitted By rachnatatachar
Words 1323
Pages 6
Professor Vaccaro

SUMMER SESSION - I , 5th EXAMINATION ( Chapter 13 ) – Part I

NAME ___Due Thursday, July 14th, 2016

MULTIPLE CHOICE : ( select the most correct response )

1. The Y-intercept ( bo ) represents the:

a. estimated average Y when X = 0. b. change in estimated average Y per unit change in X. c. predicted value of Y. d. variation around the sample regression line.

2. The slope ( b1 ) represents:

a. predicted value of Y when X = 0. b. the estimated average change in Y per unit change in X. c. the predicted value of Y. d. variation around the line of regression.

3. The least squares method minimizes which of the following?

a. SSR b. SSE c. SST d. all of the above

A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of its product. To do this, the firm randomly chooses six (6) small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will construct a simple linear regression on the data below:

City Price ($) Sales River Falls 1.30 100 Hudson 1.60 90 Ellsworth 1.80 90 Prescott 2.00 40 Rock Elm 2.40 38 Stillwater 2.90 32


4. Referring to the above, what is the estimated slope…...

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