Remaining Time: 1 hour, 50 minutes, 39 seconds. Question Completion Status: A Moving to another question will save this response. Question 8 To evaluate the goodness of fit in a regression, one should Check if the correlation table indicates the presence of multicollinearity Check if the confidence interval for each explanatory variable coefficient does not contain zero Check if a histogram of residuals roughly looks bell-shaped A Check the residual plots for a sign of pattern d. 00 None of the proposed choices is valid Check if the adjusted R square is reasonably high
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
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Question 26
Consider two random vanables X and Y wth the following the joint distribution
X--1
0 21
X-1
Y-1
0 14
0 26
0 16
Y-3
013
01
a What is the probability P(Y=2) equal to?
b. What is the expected value of X?
c True or False X and Y are independent because P(X=-1 and Y=1) = P(X= -1) * P(Y=1).
d Let Z X+Y Then Z has a discrete probability distribution with how many distinct values?
e Let Z-X+Y What is P(Z-2)?
f Whach of the following should you type in a cell of the spreadsheet below to calculate the covariance of X and Y?
(1)-COVARIANCE P(B2 DS) (2) =COVARIANCE P(C3 DS) (3)=COVARIANCE P(C2 D2, B3 B5) (4) =COVARIANCE P(C3 CS, D3 D5) () None of the abeve
2.
IN 1
1 021
2 026
3 013 01
3
0 14
0 16
4.
Y.
5.
(The grey cell are the labels of the rows and columns of the spreadsheet]
3112pt)
v T-E -IE
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