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Economics
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10 Dec 2018

Which statistic is called the coefficient of determination and why?

A. t statistic since it indicated which variables determine the variation in Y.
B. R2 since it indicates the share of Y variation determined by X variation.
C. F statistic since it shows the strength of the regression relationship.
D. Mean Squared Regression since it shows the amount on average of Y determined by X.

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Related questions

Since increasing the number of variables increases R2 why not include every variable in the regression equation?

A. Yes, you can include as many significant variables as you wish since computation power is the only limitation on regression modeling.
B. No, since the F statistic and Adjusted R2 value degrees of freedom increase and they decreases as a result.

C. No, since coefficient t-values will decrease as more variables are added.

D. No, since the accuracy of the additional data decreases as more variables are added.

Cascade Pharmaceuticals Company developed the following regression model, using time-series data from the past 33 quarters, for one of its nonprescription cold remedies:

Y = −1.04 + 0.24X1 − 0.27X2

where Y = quarterly sales (in thousands of cases) of the cold remedy

X1 = Cascade’s quarterly advertising (x$1,000)for the cold remedy

X2 = competitors’ advertising for similar products (x $10,000)

Here is additional information concerning the regression model:

sb1 = 0.032

sb2 = 0.070

R2 = 0.64

se = 1.63

F-statistic = 31.402

Durbin-Watson (d) statistic = 0.4995

a. Which of the independent variables (if any) appears to be statistically significant (at the 0.05 level) in explaining sales of the cold remedy?

b. What proportion of the total variation in sales is explained by the regression equation?

c. Perform an F-test (at the 0.05 level) of the overall explanatory power of the model.

d. What additional statistical information (if any) would you find useful in the evaluation of this model?

Econ 3050

7. When every member of the accessible population has an equal chance of being selected to participate in the study, the researcher is using:

a) Simple random sampling

b) Stratified random sampling

c) Convenience sampling

d) Purposive random sampling

8. A regression line has been found that has nearly all the points lying directly on the line, and only a few of them stray away from the line. Therefore, the standard error of the estimate is likely to be

Huge.

Small.

0.

Undefined.

9. Correlation coefficient ranges from _______ to ____________.

a) - 1 to 0.

b) 0 to 1.

c) -1 to 1.

d) None of the above.

10. The correlation coefficient of determination is the:

a) Ratio of the explained variation to the total deviation.

b) Ratio of the unexplained deviation to the explained deviation.

c) Ratio of the unexplained deviation to the total variation.

d) Ratio of the explained variation to the total variation.


11. If the correlation coefficient r = 0.5 then the coefficient of determination is:

a) 0.10

b) 0.25

c) 1.00

d) 2.50

12. Which one of the following is NOT appropriate for studying the relationship between two quantitative variables?

Scatterplot

Bar chart

Correlation

Regression

13. In regression, an independent variable is sometimes called a response variable.

True

False

14. The simple linear regression equation can be written y = b0 + b1x. In the simple linear regression equation, the symbol y represents:

The average or predicted response

Estimated intercept

Estimated slope

Explanatory variable

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