Question
In: Statistics and Probability
The main objective of a regression analysis is to make predictions of Y using X? True...
The main objective of a regression analysis is to make predictions of Y using X?
True
False
Solutions
Expert Solution
The main objective of a regression analysis is to make predictions of Y using X?
Answer :- True
The our main objectives or purpose of a regression analysis are as below
1. Estimate a relationship among economic variables, such as y = f(x).
2. Forecast or predict the value of one variable y based on the value of another variable x
Here, y is called dependent or response variable
x is called independent or explanatory variable.
That is, we have given the value of x and using this value of x we predict the value of dependent variable y using linear regression equation.
Summary :-
The main objective of a regression analysis is to make predictions of Y using X?
Answer :- True
orchestra answered 2 years agoRelated Solutions
Discuss the role of regression analysis in business by using examples of how these models might work to make predictions.
This week, we learn about regression analysis and regression “models’. Discuss the role of regression analysis in business by using examples of how these models might work to make predictions. In your discussion, consider the various components of the output and how it might be of value to understanding the data.
Solve the problem. A regression equation can be used to make predictions of the y value...
Solve the problem.
A regression equation can be used to make predictions of the y
value corresponding to a particular x value. Determine whether the
following statement is true or false:
The 95% confidence interval for the mean of all values of y for
which x = x0 will be wider than the 95% confidence interval for a
single y for which x = x0.
1- The regression of X on Y is not the same as the regression of Y...
1-
The regression of X on Y is not the same as the regression of Y
on X. Why is this?
Select one:
a. Because the regression minimises the residuals of y, not the
residuals of x.
b. Because unlike correlation, regression assumes X causes
Y.
c. Because one goes through (mean x, mean y) whereas the other
goes through (mean y, mean x).
d. Because the F test divides MSy by MSx, not the other way
round.
2-
Using...
If I ran a multivariate regression analysis for the effect of independent variables X and Y...
If I ran a multivariate regression analysis for the
effect of independent variables X and Y on dependent variable A,
that produced an adjusted R^2 of .0553, then added the independent
variable Z to the analysis and got an adjusted R^2 of .0550, would
that decrease in the adjusted R^2 translate to the independent
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A political pollster is conducting an analysis of sample results in order to make predictions on...
A political pollster is conducting an analysis of sample results
in order to make predictions on election night. Assuming a?
two-candidate election, if a specific candidate receives at
least
55?% of the vote in the? sample, that candidate will be forecast
as the winner of the election. You select a random sample of 100
voters. Complete parts? (a) through? (c) below.
a.
What
is the probability that a candidate will be forecast as the winner
when the population percentage of...
A political pollster is conducting an analysis of sample results in order to make predictions on...
A political pollster is conducting an analysis of sample results
in order to make predictions on election night. Assuming a
two-candidate election, if a specific candidate receives at least
54% of the vote in the sample, that candidate will be forecast as
the winner of the election. You select a random sample of 100
voters. Complete parts (a) through (c) below.
a.
The probability is ______ that a candidate will be forecast as
the winner when the population percentage of...
A political pollster is conducting an analysis of sample results in order to make predictions on...
A political pollster is conducting an analysis of sample results
in order to make predictions on election night. Assuming a
two-candidate election, if a specific candidate receives at least
55% of the vote in the sample, that candidate will be forecast as
the winner of the election. You select a random sample of 100
voters. Complete parts (a) through (c) below.
a. What is the probability that a candidate will be forecast as
the winner when the population percentage of...
1-A regression analysis between weight (y in pounds) and height (x in inches) resulted in the...
1-A regression analysis between weight (y in pounds) and height
(x in inches) resulted in the following least squares line:
?̂=120+5? This implies that if the height is increased by 1 inch,
the weight is expected to:
A. increase by 5 pounds
B. increase by 24 pounds
C. increase by 1 pound
D. decrease by 1 pound
If the coefficient of correlation is -0.60, then the coefficient
of determination is:
A. 0.36
B. -0.36
C. -0.60
D. 0.40
2- For...
A Regression analysis was applied between sales data (y in $1000s) and advertising expenditure (x in...
A Regression analysis was applied between sales data (y in
$1000s) and advertising expenditure (x in $100s) and the estimated
regression equation is obtained as ŷ = 12 + 1.8 x.
Suppose SST=300, SSE=75, sb1 =0.2683 and ?=17
a) Carry out a t-test to see whether the advertising expenditure
is significant. Use α = 0.05 and critical value approach to draw
your conclusion. Make sure to show all your steps.
b) Carry out an F-test to see whether the advertising...
Using your calculator, run a regression analysis on the following bivariate set of data with y...
Using your calculator, run a regression analysis on the
following bivariate set of data with y as the response
variable.
x y
71.2 23.1
90.8 122.9
88.8 82.9
57.7 18.3
71.4 8.6
60.4 25.9
60.2 -43.1
88.5 77.4
68.2 -5.9
41.1 -83
61.4 -2.5
87.1 39.4
Find the correlation coefficient and report it accurate to three
decimal places. r =
What proportion of the variation in y can be explained by the
variation in the values of x? Report answer...
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