Q When fitting a linear regression, the dependent variable is the variable ____________.
I. being observed from independent variables
II. being predicted or estimated from the independent variables
III. used to predict or estimate the independent variables
II.The variations in residuals are not the same for small and large values of predicted Y
III.The independent variables are correlated.
II. The variations around the regression equation are different for different values of the independent variable but average to be zero.
III.The variations around the regression equation increases with increasing values of the independent variable.
Q What does a strong correlation imply?
I.A strong correlation implies that X the independent variable has no relationship with Y the dependent variable.
II. A strong correlation implies that X the independent variable has only a statistical relationship with Y the dependent variable. There is no causal relationship.
III.A strong correlation implies that X the independent variable has a casual relationship with Y the dependent variable.
II. The independent variables are correlated.
III.The residuals are independent.
Q In a multiple regression, after executing and deriving an insignificant Global (ANOVA) test, you should then _______________.
II. Re-run the regression with only the highly correlated independent variables.
III.Remove one of the highly correlated independent variables and re-run the regression.
II. a X-Y diagram where Y is the independent variable and X is the dependent variable
III.a line diagram where X is the variable measured and Y is the frequency
I. being observed from independent variables
II. being predicted or estimated from the independent variables
III. used to predict or estimate the independent variables
A II only
Q 
A An increase of 1 sq ft is expected to decrease the price of the diamond by $0.01.
Q Which of the following statements is NOT a characteristic of Variance Inflation Factor (VIF)?
A Higher VIF is preferred.
Q In a multiple regression equation Y= A + B1X1 + B2X2 + B3X3 + ... + BkXk, what is A?
A A is the Y intercept in the population or the value of Y when all Xs are equal to 0
Q When discussing appropriate multiple regression analysis, which of the following is an assumption of multiple regression?
I.There is a linear relationship between dependent variable and the set of independent variables.II.The variations in residuals are not the same for small and large values of predicted Y
III.The independent variables are correlated.
A
Q Which of the following statements is NOT a characteristic of coefficient of correlation?
A Value near -1 indicates a strong direct or positive association between the variables.
Q What is the assumption of homoscedasticity?
I.The variations around the regression equation is the same irrespective of the values of the independent variable.II. The variations around the regression equation are different for different values of the independent variable but average to be zero.
III.The variations around the regression equation increases with increasing values of the independent variable.
A
I.A strong correlation implies that X the independent variable has no relationship with Y the dependent variable.
II. A strong correlation implies that X the independent variable has only a statistical relationship with Y the dependent variable. There is no causal relationship.
III.A strong correlation implies that X the independent variable has a casual relationship with Y the dependent variable.
A II only
Q In a regression equation Y= A + BX, what is A?
A is the Y intercept in the population or the value of Y when X=0.
Q 
A There is strong positive correlation between the Price and the number of Carats in a diamond.
Q In a multiple regression, executing and deriving a significant Global (ANOVA) test indicates that ______________________________.
A at least one of the independent variables is significant in explaining changes in the dependent variable
Q Which of the statement below best explains the coefficient of determination?
A The coefficient of determination is the proportion of total variation in the dependent variable Y that is explained or accounted for by the variations in the independent variable X.
Q When discussing appropriate multiple regression analysis, which of the following is an assumption of multiple regression?
I.The variations in residuals are not the same for small and large values of predicted Y.II. The independent variables are correlated.
III.The residuals are independent.
A III only
Q What does the coefficient of correlation indicate?
A The coefficient of correlation shows the direction and strength of the linear (straight line) relationship between two interval or ratio scale variables.
Q To interpret appropriately, a correlation coefficient of -0.85 would indicate a_______________________.
A
A conduct a t-test for each individual regression coefficient
Q 
A Low p-value indicates that variable SQFT is in the rejection zone and is significant explaining changes in price of property.
Q 
A Independent variable Store Area is not significant by itself and must be interpreted with Carats.
Q If multicollinearity is detected, which of the following should be the next step?
I.Increase the sample size and re-run the regression.II. Re-run the regression with only the highly correlated independent variables.
III.Remove one of the highly correlated independent variables and re-run the regression.
A III only
Q In a scatter diagram, points are plotted on __________________.
I. a X-Y diagram where X is the independent variable and Y is the dependent variableII. a X-Y diagram where Y is the independent variable and X is the dependent variable
III.a line diagram where X is the variable measured and Y is the frequency
A I only
RESULTS: 85/100
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