Bi-Weekly Quiz 5

Started: May 24 at 16:10

Quiz Instructions

Instructions: This quiz is available from 8:00am to 11:00pm on Friday, 24 May 2024, and it is worth 2% of the total mark for this unit. You have 30 minutes to complete the quiz on Canvas>Quizzes, and you can attempt this quiz up to two times. Answers submitted after 11:00pm will not be accepted. You may use Excel to find the answers to questions in the tasks. This quiz has 1 task and a total of 15 questions, and the full mark is 2. An Excel data file is provided within this quiz. If your numerical answer has more than 4 decimal places, you must round it to 4 decimal places.

Data file: QBUS5001(2024S1) Quiz 5 (Data).xlsx Download QBUS5001(2024S1) Quiz 5 (Data).xlsx

Note: this is a timed quiz. You may check the remaining time you have at any point while taking the quiz by pressing the keyboard combination SHIFT, ALT, and T... Again: SHIFT, ALT, and T...
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Task 1 (2 marks): Multiple Linear Regression Analysis

A small group of business school students is given a task to study the annual salary, Y (in $1,000), of the University of Sydney Business School alumni who are executives in middle management. They take a random sample of 50 alumni and collect data on the salary and the following six independent variables that may affect the salary of an executive: 

X1 = Gender (M=1, F=0)                             X2 = Years of experience                                  

X3 = Years of education                              X4 = Age (in years)                                  

X5 = Corporate assets ($ millions)             X6 = Last year’s profit of Company ($ millions)

The values of Y, X1, X2, X3, X4, X5 and X6 from the 50 alumni are given in Spreadsheet “Task 1”. The students build a multiple linear regression (MLR) model on Y using all independent variables. Conduct a multiple MLR analysis on the data. Answer Question 1 and Question 5. 

Flag question: Question 1
Question 1 0.16 pts
0 numerical_question   4687624

Q1. In the overall significance test, what is the critical value of the test statistic at the 1% level of significance?

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Question 2 0.08 pts
0 short_answer_question   4687625

Q2: Is the MLR model significant at the 0.01% level of significance? (Yes/No)

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Question 3 0.08 pts
0 short_answer_question   4687626

Q3: Which independent variable appears to be the most important? (X1/X2/X3/X4/X5/X6)

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Question 4 0.08 pts
0 short_answer_question   4687627

Q4: Which independent variable appears to be the least important? (X1/X2/X3/X4/X5/X6)

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Question 5 0.16 pts
0 numerical_question   4687628

Q5: Keeping the values of other independent variables unchanged, how much will the annual salary increase on average if an alumnus receives an extra year of education?  

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Instructions: Conduct a backward elimination procedure to obtain a reduced model. Answer Question 6 to Question 15.

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Question 6 0.24 pts
0 numerical_question   4687629

Q6: How many independent variables are identified to be unimportant? 

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Question 7 0.28 pts
0 fill_in_multiple_blanks_question   4687630

Q7: The estimated equation of the reduced model is  y^ = + X1 + X2 + X3 + X4 + X5 + X6. Give all non-zero answers to 2 decimal places. Zero value must be entered as “0”.

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Question 8 0.12 pts
0 numerical_question   4687631

Q8: What is the intercept in the estimated linear regression equation for male alumni? 

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Question 9 0.12 pts
0 numerical_question   4687632

Q9: What percentage of the total variation in the y-values is explained by these unimportant independent variables?

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Question 10 0.12 pts
0 fill_in_multiple_blanks_question   4687633

Q10: The partial F follows an F distribution with and degrees of freedom, respectively. Give you answer as integers. 

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Question 11 0.16 pts
0 numerical_question   4687634

Q11: What is the observed value of the partial F? 


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Question 12 0.16 pts
0 numerical_question   4687636

Q12: In choosing between the full model and the reduced model, what is the p-value? 

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Question 13 0.08 pts
0 short_answer_question   4687637

Q13: At the 5% level of significance, does the data support the reduced model? (Yes/No)

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Question 14 0.08 pts
0 short_answer_question   4687638

Q14: Are there any possible outliers? (Yes/No)

Flag question: Question 15
Question 15 0.08 pts
0 short_answer_question   4687639

Q15: Does the residual plot show any pattern? (Yes/No)

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