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Refer to the scatter plot below, which represents the relationship between unit price of a certain product and the quantity sold of the product each month on the product. E El 3 L". Li"! o_ El. E :I FF 1"."- Price of Product {S} The oorrelation coefficient [rill of the problem, if computed, oould be: a. close to +1.0 b. close to D c. close to -'| .D d. Exactly 1 e. None of the above {Type the letter corresponding to you your answer in the box] Does the number of hours per day students spend on social media have an effect on their performance in class as measured by their scores on the final exam? The most appropriate statistical procedure to use to answer this question is: (Hint: identify and classify the variables in this study) a. One-way ANOVA b. Two-way ANOVA with Replication C. Chi-square Goodness of Fit Test d. Chi-square Test for Independence e. Regression and Correlation Analysis (Type the letter corresponding to you your answer in the box) AnswerRefer to the scatter plot below, which represents the relationship between unit price of a certain product and the quantity sold of the product each month on the product. {mun} Plus Mnueno Price of Product {S} Around what percentage of the variation in quantity sold can be explained by the price of the product? a. Close to zero b. Close to ttjg.r c. Close to 100 percent d. Close to negative \"ID-0 percent [Type the letter oorresponding to you your answer in the box] If all the plots on a scatter diagram lie on a straight line, what is the standard error of estimate? Select one: O a. -1 O b. +1 O d. Infinity Clear my choiceWhat is the variable used to predict the value of another called? Select one: O a. Independent variable O b. Dependent variable O c. Correlation variable O d. Variable of determination Clear my choiceUsing a linear model, you want to estimate the actual value of the response variable {Y} for a given value of the independent variable (X), which of the following interval estimates is used when one wants to estimate the true value of the dependent variable {'I'} for a given value of the independent variable in a simple linear model? 3. Condence interval b. Prediction interval :2. Point estimate d. None of the above [Type the letter corresponding to you your answer in the box] In multiple regression analysis, when the independent variables are highly correlated, this situation is called Select one: O a. Autocorrelation O b. Multicollinearity O c. Homoscedasticity O d. curvilinearity Clear my choiceWhich of the following will be considered as quantitative variables in a multiple regression model to be used for predicting the assessed value of homes in a certain community? a. Floor area b. Type of roofing C. Monthly expense on utilities d. Number of bedrooms e. All of the above but (b) (Type the letter corresponding to you your answer in the box) Answer IDWhat can we conclude if the coefficient of determination is 0.94? Select one: O a. Strength of relationship is 0.94 O b. Direction of relationship is positive O c. 94% of total variation of one variable is explained by variation in the other variable. O d. A and B are correct Clear my choiceIn multiple regression, a dummyr variable can be included in a multiple regression model as Select one: D a. An additional quantitative variable D b. A nominal variable with three or more values D c. A nominal variable with only two values d. A new regression coefcient Clear my choice
