A certain type of rare gem serves as a status symbol for many of its owners. In theory, for low ...

A certain type of rare gem serves as a status symbol for many of its owners. In theory, for low prices, the demand increases and it decreases as the price of the gem increases. However, experts hypothesize that when the gem is valued at very high prices, the demand increases with price due to the status owners believe they gain in obtaining the gem. Data on price and quantity sold were collected for a sample of 35 rare gems of this type. Which of the following would be the most appropriate analysis to perform?
 
  A) Least-squares forecasting with monthly or quarterly data
  B) Exponential smoothing
  C) Quadratic regression model
  D) Autoregressive modeling for trend fitting and forecasting

Q. 2

An economist is interested to see how consumption for an economy (in  billions) is influenced by gross domestic product ( billions) and aggregate price (consumer price index). Annual data from 30 years were collected. Which of the following would be the most appropriate analysis to perform?
 
  A) Exponential smoothing
  B) Multiple linear regression
  C) Autoregressive modeling for trend fitting and forecasting
  D) Simple linear regression

Q. 3

A manager of a product sales group believes the number of sales made by an employee depends on how many years that employee has been with the company and how he/she scored on a business aptitude test. A random sample of 38 employees was selected to collect data on their number of sales, number of years with the company and scores on a business aptitude test. Which of the following would you perform to draw a conclusion on the belief?
 
  A) One-way ANOVA B) Two-way ANOVA
  C) Simple linear regression D) Multiple linear regression

Q. 4

The director of a training program wanted to know if a one-week orientation would change the perception of potential clients who would perceive the program as being good. He collected information on the number of clients who would rate the program as being good before and after the orientation. Which of the following tests will be the most appropriate?
 
  A) Tukey-Kramer procedure B) McNemar test
  C) Wilcoxon rank sum test D) 2 test for proportions

Q. 5

The director of admissions at a state college is interested in seeing if admissions status (admitted, waiting list, denied admission) at his college is related to the type of community (urban, rural, suburban) in which an applicant resides. Which of the following tests will be the most appropriate?
 
  A) McNemar test
  B) Two-way ANOVA F test for the type of community effect
  C) Two-way ANOVA F test for interaction effect
  D) 2 test for independence

Q. 6

An agronomist wants to compare the crop yield of 3 varieties of chickpea seeds. She plants all 3 varieties of the seeds on each of 5 different patches of fields. She then measures the crop yield in bushels per acre. She has found out that the different varieties do have an impact on crop yield. Which of the following tests will be the most appropriate to find out which variety will produce the highest yield?
 
  A) McNemar test
  B) Tukey multiple comparisons procedure for randomized block designs
  C) One-way ANOVA F test for differences among more than two means
  D) Tukey-Kramer multiple comparisons procedure for one-way ANOVA