Part IV. Multiple Choice (10 Points Each) 1. In the regression equation, y-75.65
ID: 3054490 • Letter: P
Question
Part IV. Multiple Choice (10 Points Each) 1. In the regression equation, y-75.65 +0.50x, the slope is a) 0.50 b) 75.65 c) 1.00 d) 0.00 e)-0.50 2. A manager wants to predict the cost (y) of travel for salespeople based on the number of days (x) spent on each sales trip. The following model has been developed: y $400 + 120x. If a trip took 3 days, the predicted cost of the trip is_ a) 760 b) 360 c) 523 d) 1560 e) 1080 3. For some value of Z, the probability that a standard normal variable is below Z is 0.2090. The value of Z is a. -0.81 b.-0.31 c. 0.31 d. 1.96 For some positive value of Z, the probability that a standard normal variable is between 0 and Z is 0.3340. The value of Z is 4. a. 0.07 b. 0.37 c. 0.97 d. 1.06
Explanation / Answer
1) Slope is 0.50 ( Coefficient of x)
2) Predicted cost = 400+120*3 = $760
3) P(Z<z) = 0.2090
z = -0.81
4) P(0<Z<z) = 0.3340
z = 0.97