Homoscedasticity Samenvattingen, Aantekeningen en Examens

WGU C207 Pre- Assessment Data-Driven Decision-Making Exam (NEW 2023/ 2024 Update) Questions and Verified Answers- 100% Correct| Grade A A company decides to auction excess inventory on an auction website. The company has performed a regression analysis to identify how the length of the auction impacts the final price. Which statistic indicates the strength of the relation ship between the length of the auction and final price? F-statistic P-value R-squared Z-score Answer: R-squared...

R squared is the: a. coefficient of multiple determination b. coefficient of stability c. coefficient of internal consistency d. silver character on "Star Wars" correct answer a. coefficient of multiple determination When data points are widely scattered around a regression line, this indicates: a. low homoscedasticity b. low correlation coefficient c. low heteroscedasticity d. high heteroscedasticity correct answer b. low correlation coefficient Heteroscedasticity correct answer...

Cramer V Test - Used to indicate how strongly associated two different categorical/nominal variables are with each other. - Based on Pearson Chi-Square statistic - Test is performed on contingency tables - Cramer's V value is between 0 & 1. - Values closer to 0 indicate little association between variables. - Values closer to 1 indicated strong association between variables. - In 2x2 contingency table, Cramer's V = Phi coefficient - Can be used on tables with size > 2x2 (i.e. 3x3, 3...

Now that we've been open for 15 weeks, we want to compare the average weekly sales on Saturday to the average weekly sales on Sunday. Which is the appropriate statistical test? - Answer- t-test We perform a t-test and our p-value is less than 0.05. Should we reject the null? - Answer- Yes. We have a significant difference between the groups. Which statistical test can we use to test a correlation between customers per day and sales per day? - Answer- Linear Regression Which R-square gi...

Now that we've been open for 15 weeks, we want to compare the average weekly sales on Saturday to the average weekly sales on Sunday. Which is the appropriate statistical test? - Answer- t-test We perform a t-test and our p-value is less than 0.05. Should we reject the null? - Answer- Yes. We have a significant difference between the groups. Which statistical test can we use to test a correlation between customers per day and sales per day? - Answer- Linear Regression Which R-square gi...

ANOVA variables and level of measurments Correct Answer IV is categorical or nominal (with 3 or more levels) DV is parametric data Correlation Correct Answer examining relationship between two variables looks at pearsons R coefficient, (Scatter plots are appropriate representation for correlation) (Looks at linear relationships) Problems with covariance Correct Answer Problems with a particular statistical method; - Depends on the unit of measurement (eg. Miles converted to Km gives a d...

trend -is a general direction in which something is developing or changing analysis of variance (ANOVA) -verifies if multiple populations of data are the same or at least one is different than the others. cyclicality -describes results that go up and down periodically, but don't necessarily follow the calendar homoscedasticity -assumes that the variance of a dependent variable is consistent across the range of values

Econometrics Test #1 Questions and Answers 100% Pass the residual value: -Answer-The difference between the estimated Y and the actual Y Ordinary least squares (OLS): -Answer-a regression estimate technique that calculates the coefficients so as to minimize the sum of the squared residuals Total sum of squares (TSS) = -Answer-Explained sum of squares (ESS) + Residual sum of squares (RSS) R^2 (coefficient of determination) -Answer-the most commonly used measure of fit equation for R^2 -An...

WGU C207 STUDY GUIDE MODULE 3 & 4 Exam Questions and Answers trend -Answer-is a general direction in which something is developing or changing analysis of variance (ANOVA) -Answer-verifies if multiple populations of data are the same or at least one is different than the others. cyclicality -Answer-describes results that go up and down periodically, but don't necessarily follow the calendar homoscedasticity -Answer-assumes that the variance of a dependent variable is consistent across t...

WGU C-207 Quiz- 100% Correctly Solved 2024 Now that we've been open for 15 weeks, we want to compare the average weekly sales on Saturday to the average weekly sales on Sunday. Which is the appropriate statistical test? -Answer-t-test We perform a t-test and our p-value is less than 0.05. Should we reject the null? - Answer-Yes. We have a significant difference between the groups. Which statistical test can we use to test a correlation between customers per day and sales per day? -Answer...