You are interested in examining the factors that determine the average length of stay by patients in ...

You are interested in examining the factors that determine the average length of stay by patients in hospitals across states.
 
  You collect data on the following variables:Y = statewide average hospital stayX1 = median state incomeX2 = 1 if the state is in the Northeast, 0 otherwiseX3 = 1 if the state is in the South, 0 otherwiseX4 = 1 the state is in the Midwest, 0 otherwiseX5 = 1 the state is in the West, 0 otherwiseBased on the data above, you run the following regression: Y = 0 + 1X1 + 2X2 + 3X3 + 4X4.Identify the length of stay for each of the four regions using the population slopes.

Q. 2

Find the standard error of the mean when the population standard deviation is 4.1 and a sample of size 30 is taken.
 
  A) 7.32
  B) 0.08
  C) 1.34
  D) 0.75

Q. 3

A randomized block design ANOVA has five treatments and four blocks. The computed test statistic (value of F) is 4.35. With a 0.05 significance level, the appropriate table value and conclusion will, respectively, be:
 
  A) 14.37; fail to reject the null hypothesis.
  B) 3.11; fail to reject the null hypothesis.
  C) 3.26; fail to reject the null hypothesis.
  D) 3.26; reject the null hypothesis.

Q. 4

Explain what is meant by multicollinearity. What effects does multicollinearity have on the results of regression coefficients?
 
  What will be an ideal response?

Q. 5

Find the standard error of the mean when the population standard deviation is 0.7 and a sample of size 50 is taken.
 
  A) 0.099
  B) 0.014
  C) 0.028
  D) 7.14

Q. 6

If the stock return increases at a slower rate than the market return, the slope of the regression line is ________.
 
  A) greater than one
  B) equal to one
  C) lesser than one
  D) equal to zero