Podcast
Questions and Answers
What is the main goal when estimating a regression line?
What is the main goal when estimating a regression line?
- To identify the correlation coefficient
- To draw a line that comes as close as possible to the cases in the scatter plot (correct)
- To predict the exact value of the dependent variable
- To explain the relationship between the dependent and independent variables
Why can't we simply add up the residual values to summarize the fit of each line?
Why can't we simply add up the residual values to summarize the fit of each line?
- Because residual values are not measurable
- Because residual values are always positive
- Because positive and negative residual values cancel each other out (correct)
- Because residual values are always negative
What do we want to minimize when estimating a regression line?
What do we want to minimize when estimating a regression line?
- The slope of the line
- The intercept of the line
- The correlation coefficient
- The residual values (correct)
What is the purpose of assessing the fit of each line?
What is the purpose of assessing the fit of each line?
Why do we need a method to assess the fit of each line?
Why do we need a method to assess the fit of each line?
What do we want to achieve when drawing a regression line?
What do we want to achieve when drawing a regression line?
What is the predicted value of Yi calculated using α̂ and β̂?
What is the predicted value of Yi calculated using α̂ and β̂?
What does the residual (ûi) represent in the context of a two-variable regression model?
What does the residual (ûi) represent in the context of a two-variable regression model?
What is another name for the estimated stochastic component (ûi)?
What is another name for the estimated stochastic component (ûi)?
What is the formula for calculating the residual (ûi)?
What is the formula for calculating the residual (ûi)?
What is the relationship between ûi and ui?
What is the relationship between ûi and ui?
What is the equation for the two-variable regression model?
What is the equation for the two-variable regression model?
What is the primary reason for making assumptions about the population stochastic component in regression?
What is the primary reason for making assumptions about the population stochastic component in regression?
What is the symbol for the variance of the population stochastic component in the given notation?
What is the symbol for the variance of the population stochastic component in the given notation?
What is the assumption that the mean of the population stochastic component is equal to zero?
What is the assumption that the mean of the population stochastic component is equal to zero?
What is the term for the assumption that the variance of the population stochastic component is constant?
What is the term for the assumption that the variance of the population stochastic component is constant?
How many assumptions are made about the population stochastic component in regression?
How many assumptions are made about the population stochastic component in regression?
What is the assumption about the model specification in regression?
What is the assumption about the model specification in regression?
What is the primary difference between a one-tailed hypothesis test and a two-tailed hypothesis test?
What is the primary difference between a one-tailed hypothesis test and a two-tailed hypothesis test?
What is the null hypothesis in a one-tailed test, where the alternative hypothesis is that the parameter is positive?
What is the null hypothesis in a one-tailed test, where the alternative hypothesis is that the parameter is positive?
How do you use the t-table in Appendix B to get the right p-value for a one-tailed test?
How do you use the t-table in Appendix B to get the right p-value for a one-tailed test?
What is the purpose of the t-ratio calculation in a one-tailed hypothesis test?
What is the purpose of the t-ratio calculation in a one-tailed hypothesis test?
Can one-tailed tests be used on the intercept (α) in a regression model?
Can one-tailed tests be used on the intercept (α) in a regression model?
What is the reason for using a one-tailed hypothesis test instead of a two-tailed hypothesis test?
What is the reason for using a one-tailed hypothesis test instead of a two-tailed hypothesis test?
What is the value of β in the null hypothesis?
What is the value of β in the null hypothesis?
What is the formula used to test hypotheses about the y-intercept parameter?
What is the formula used to test hypotheses about the y-intercept parameter?
What is the null hypothesis in the context of testing the y-intercept parameter?
What is the null hypothesis in the context of testing the y-intercept parameter?
What is the relationship between the 95% confidence interval and a two-tailed hypothesis test?
What is the relationship between the 95% confidence interval and a two-tailed hypothesis test?
What can be concluded if the 95% confidence interval for a particular parameter does not include zero?
What can be concluded if the 95% confidence interval for a particular parameter does not include zero?
When evaluating whether a null hypothesis is that a coefficient value equals zero, what is the calculation being performed?
When evaluating whether a null hypothesis is that a coefficient value equals zero, what is the calculation being performed?