Econometrics Questions
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Which Excel feature will let you enforce a rule where the user can only enter whole numbersin a particular cell?
What type of cell references is Sophia using in the following Excel formula: =IF($B3="Non-Management", $B$12, $C$12)?
The following spreadsheet and formula results in what type of common spreadsheet error?A B1 Total Employee Salaries23 Employee Name Salary4 Fletcher Davis $ 54,900.005 Simon Jennings $ 35,000.006 Ainsley Smart $ 22,500.007 Casey Manning $ 85,000.008 Moira Fowler $ 49,000.009 Grand Total =SUM(B4:B9)
Which one of the following is not one of the three primary components in a decision model?
A regression model made to conform to a sample set of data, compromising predictive poweris called _____________.
The estimate regression equation for the average cost of widgets is:^Widgets = 7.40 − 0.2589 Output + 0.2031 Output 2 . Both predictor variables are statisticallysignificant at 5% level, confirming the quadratic effect. What is the predictive average froman output level of 2 million units to 3 million units?
Consider the following quadratic model, y = 25 + 1.5x − 0.25x 2 . Predict y when x = 12.
Compute given x 1 = 25 with x 2 evaluated at 5 where=−97.2850 + 5.5416 x 1 + 3.0928 x 2 −0.1210 x 1 x 2 .
The following partially completed spreadsheet contains information for computing an annualbudget. Is this a deterministic or stochastic model and why?A B1 Ramirez Monthly Budget23 Variables:4 Annual salary $ 54,900.005 One-time bonus $ 10,000.006 Fixed expenses 50%7 Salary savings 10%8 Bonus savings 50%910 Annual Estimates11 Savings12 Spending money
The estimate regression equation for the average cost of widgets is:^Widgets = 7.23 − 0.2478 Output + 0.1954 Output 2 . Both predictor variables are statisticallysignificant at 5% level, confirming the quadratic effect. What is the predictive average froman output level of 2 million units to 3 million units?
An estimated linear regression of annual fuel expenditures y on annual income x isrepresented as the following equation:= 2,200 + 0.05x. Jim was offered a new job thatwould increase his salary by $2,000. What would be his potential increase in fuel costs?Based on this information, is the assumption of increased fuel cost against annual salarymeaningful?
Why are the partial effects of the two predictor variables more difficult to interpret when a model contains the interaction of two numerical variables?
In a regression model, the _____________ exists when a predictor variable has a differentpartial effect on the outcome of another predictor variable.
A nonlinear regression model where both the response and predictor variables aretransformed into natural logs is called a _____________.
A study was completed on cholesterol in 100 male adults 40-60 years of age to determine ifthere is a relationship between cholesterol concentration and time spent watching TV. Theresearchers wanted to determine if there are any predictive results, such as if the amount oftime spent watching TV increases or decreases cholesterol levels. Based on the followingregression results, is TV-watch statistically significant?Variable Model 1 p−valueConstant −2.39595 0.0000TV_time 0.043778 0.002Adjusted R 2 0.1323
What is the predicted value (ŷ) when the numerical variable is x = 70 for the regressionequation ŷ = −580 + 21.0x − 0.167x 2?
Consider a linear regression model where y represents the response variable and d 1 and d 2represent two dummy variables. The model is estimated as ŷ = −2.53 + 2.04x + 4.20d 1 −2.86d 2 + 0.68d 1 d 2 . Compute ŷ for x = 3, d 1 = 1, and d 2 = 0.
A variable with a value of x 1 x 2 is added to the general linear regression model to account for two predictive variables, x 1 and x 2 and the effect on the response variable. This type of effectis called _____________.
What is the predicted value (ŷ) when the numerical variable is x = 70 for the regressionequation ŷ = −810 + 24.4x − 0.142x 2?
Sam, a marketing manager for XYZ big box stores, is trying to determine if there is arelationship between shelf space (in feet) and sales (in hundreds of dollars). To do this, Samselected the top 12 producing locations. Using the provided Model 1 results, which optionbest interprets the impact of the coefficients and p-values?Variable Model 1 p−value3Constant 10.365 0.000Number of shelves 0.211 0.000Shelf Space 0.074 0.001Adjusted R 2 0.6523