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First, describe in your own words (no direct quotes, please) what a dummy variable is and its purpose in regression analysis. Secondly, provide an example of where you might use a dummy variable from your own professional experience. Thirdly, briefly describe how you would implement a dummy variable in a data table you intend to apply regression analysis to. And, finally, provide a short discussion about the course project data set: where would you envision using a dummy variable in this data set?
Note that most of the answers to the questions are relative short and simple. So, be responsive and complete, but as succinct as possible. The idea is for you to explain the essential information regarding the topic of interactions.
Provide one example in the accounting department that you can apply a contingency table to. Briefly explain how a contingency table can be useful.
Assume that increasing and decreasing allergic reactions are equally likely if the training has no effect. Use alpha = .05
Explain in words general pattern of correlation is statistically important.
Assume P1 and P2 move simultaneously. Represent this game in normal form.
How long do new batteries last on a camping trip? A random sample of n1 = 42 small camp flashlights were installed with brand I batteries and left on until the batteries failed.
If an overrun contract was bid at 12 million dollars, what does the least-squares line predict for the cost of overrun (as a percent of bid price)?
What can you conclude from Chebyshev's theorem about the percentage of adults in the town whose heights are between 57.3 and 77.7 inches? Please show work.
Estimate using three day weighted moving average. Estimate sales for the next day using a three-day weighted moving average where the weights
Classify the following as an example of nominal, ordinal, interval, or ratio level of measurement, and state why it represents this level: rankings of the top ten best-selling authors
We are asked to test for independence between age (i.e., adult and teen) and drink preferences.
Predict the final average of a student who made an 83 on the first test. Give the value of r and r squared for this model. Interpret the value of r squared in the context of this problem.
A fair coin was flipped three times and landed heads three times. What is the probability of a head on the next toss?
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