Prob&Stats Chp3 Test

Front

What is a residual in statistics?

Back

A residual is the difference between the observed value and the predicted value in a regression analysis.

Front

How do you calculate a residual?

Back

Residual = Observed value - Predicted value.

Front

What does a positive residual indicate?

Back

A positive residual indicates that the observed value is greater than the predicted value.

Front

What does a negative residual indicate?

Back

A negative residual indicates that the observed value is less than the predicted value.

Front

What is the formula for a linear regression model?

Back

The formula for a linear regression model is typically expressed as y = mx + b, where m is the slope and b is the y-intercept.

Front

What does the slope in a linear regression model represent?

Back

The slope represents the change in the dependent variable (y) for a one-unit change in the independent variable (x).

Front

What is the correlation coefficient?

Back

The correlation coefficient is a statistical measure that describes the strength and direction of a relationship between two variables.

Front

What does a correlation coefficient of -0.99 indicate?

Back

A correlation coefficient of -0.99 indicates a very strong negative linear relationship between the two variables.

Front

What is the range of possible values for a correlation coefficient?

Back

The range of possible values for a correlation coefficient is from -1 to 1.

Front

What does a correlation coefficient of 0 indicate?

Back

A correlation coefficient of 0 indicates no linear relationship between the two variables.