Business Analysis Statistics Test #2

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A firm has eight regional branch offices. Customers within each region are coded using the variable name VALUE and are categorized as either "High Value" or "Medium Value." The response variable used in the past year is the total number of purchases made by each client. Assume REGION and VALUE have a substantial interaction. What do you draw from this?

Correct! Wrong!

The correct answer:
The disparity between medium and high value clients' average purchases varies by area.

An existing multiple linear regression model is modified by removing a non-contributing predictor variable (Pr > |t| =0.658). What will happen as a result?

Correct! Wrong!

The correct answer:
A decrease in R-Square

The link between a binary response and an ordinal predictor variable, wrist size, is examined in the LOGISTIC method output that follows. The analyst decides on Large (L) as the reference level using reference cell coding. What is a person with a large wrist size's estimated logit? If one is required, simply click the calculator icon to bring one up.

Correct! Wrong!

The correct answer:
-1.0415

In the LOGISTIC process, which of the following best defines a concordant pair of observations?

Correct! Wrong!

The correct answer:
A prediction for an observation that includes the event is higher than for an observation that does not.

You may check for non-linearity in binary logistic regression by visualizing:

Correct! Wrong!

The correct answer:
An empirical logit trend plot against a predictor variable

What is the LOGISTIC procedure's default approach to handling observations with incomplete data?

Correct! Wrong!

The correct answer:
Only instances with completely populated variables are employed.

By examining the correlation between which function of the input variables, Spearman statistics in the CORR technique are helpful for identifying unnecessary variables.

Correct! Wrong!

Explanation:
A ranked variable is an ordinal variable, meaning it may be used to rank all of the data points (1st, 2nd, 3rd, etc.). Although you may not be able to calculate the exact worth of each of your points, you do know which comes first.

A logistic regression model's input variable, Region (A, B, or C), is investigated by an analyst. The analyst finds that when Region = A, the likelihood of purchasing a specific item is 1. What issue does this highlight?

Correct! Wrong!

Explanation:
When the dependent variable partially or partially completely separates an independent variable or a mixture of numerous independent variables, this is known as quasi-complete separation. In a discrete outcome variable, levels in a category variable or values in a numeric variable are separated by groups.

What disadvantage exists in cleaning up the data (imputation, transformations, etc.) on raw data before partitioning it for accurate assessment as opposed to cleaning up the data after partitioning it?

Correct! Wrong!

The correct answer:
It is impossible to compare the efficacy of various washing techniques.

To execute an unbiased evaluation during the model building process, an analyst has access to a large enough volume of data to do a 3-way partitioning of the data into training, validation, and test sets. What goal does the test data set serve?

Correct! Wrong!

The correct answer:
to offer a fair assessment metric for the finished model.

Compared to the SCORE statement in the LOGISTIC procedure, think about scoring fresh observations in the SCORE procedure. Which claim is accurate?

Correct! Wrong!

The correct answer:
In contrast to the SCORE method, the SCORE statement in the LOGISTIC procedure simply gives anticipated probabilities.

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