1. Regression analysis that analyzes the relationship between one dependent variable and several independent variable is called

a. Cluster analysis

b. simple regression analysis

c. correlation analysis

d. multiple regression analysis

2. Data collected on the same observation unit at a number of points in time are called

a. time series data

b. cross section data

c. panel data

d. none of the above

3. Regression analysis that analyzes the relationship between one dependent variable and one independent variable is called:

a. simple regression analysis

b. multiple regression analysis

c. cluster analysis

d. correlation analysis

4. Data collected on a sample of individuals with different characteristics at a specific point in time are called

a. cross-section data

b. panel data

c. time series data

d. none of the above

5. Big poppas BBQ sanwiches is a local restaurant specializing in BBQ sandwiches. Using excel, big poppa's estimates the weekly demand function for its BBQ sandwiches to be Qd-1576.55-25.50p. The estimated regression equation suggest which of the following is true?

a. if big popa's increased its price by $1, the quantity demanded would increase by 25.50.

b. as the price of big poppa's BBQ sandwiches increases, the quantity demanded also increases.

c. The law of demand does not hold for big poppa's BBQ sandwiches.

d. there is a negative relationship between the price of big poppa's BBQ sandwhiches and the quantity demanded.

6. The standard error (SE) of a coefficient measures how much the estimated coefficient is likely to vary if another set of data is used to reestimate the regression

a. True

b. False

7. A hypothesis test using 95 percent confidence has a sign significance level equal to

a. 0.01

b. 1

c. 0.99

d. 0.05