Identify the Components of Simple Linear Regression Models and Discuss

question 42

Multiple Choice

Identify the components of simple linear regression models and discuss their applications Use the data given below to answer the following question(s) .
Following is an extract from the database of a construction company. The table shows the height of walls in feet and the cost of raising them. The estimated simple linear regression equation is given as Ŷ = b0 + b1X. (Hint: Use Excel functions) . $$\begin{array} { | l | l | } \hline\begin{array} { l } \text { Height } \\\text { (ft) }\end{array} & \text { Cost (\$) } \\\hline 4 & 670 \\\hline 3 & 430 \\\hline 7 & 810 \\\hline 9 & 1100 \\\hline 6 & 790 \\\hline 8 & 880 \\\hline 5 & 760 \\\hline 11 & 1200 \\\hline\end{array}$$
-Which of the following statements is true when using the Excel Regression tool?

• A) The range for the independent variable values must be specified in the box for the Input Y Range.
• B) Checking the option Constant is Zero forces the intercept to zero.
• C) The Regression tool can be found in the Tools tab under Insert group.
• D) Adding an intercept term reduces the analysis' fit to the data.

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Definitions:

Personality

The combination of characteristics or qualities that form an individual's distinctive character and influence their behaviors and attitudes.

Stable Pattern

A consistent and predictable sequence of actions or behaviors over time.

Appropriate Aptitudes

The specific skills or capabilities that are suitable and relevant for a particular task or job role.

Job Incumbents

Individuals who currently hold a particular job position within an organization, responsible for performing the duties associated with that role.