An empirical finance professor estimates the following regression between the return on a stock, R, and the return on S&P 500 index, Rsp:R = 5% + 1.1 Rsp + error termIf the regression R-square is 0.25, estimate the change in the return on the stock when the return on the S&P 500 index changes from 12% to 15%.
Answer(s): D
With the given regression, the change in the return on the stock when the return on the S&P 500 index changes by one unit equals the slope coefficient, 1.1. Hence, when the return on the S&P 500 index changes by 3% from 12% to 15%, the return on the stock will change by 1.1*3% = 3.3%
The lengths of time (in minutes) several underwriters took to review applications for similar insurance coverage are: 50, 230, 52 and 57. What is the median length of time required to review an application?
Answer(s): B
Order the numbers: 50,52,57,230. The median is (52 + 57)/2 = 54.5
A statistician has framed his hypothesis testing problem as:Ho: mean = 0H1: mean > 0For the given sample, he calculates the z-statistic. Then, the region of rejection at the 99% level is given by:
Answer(s): A
Since the alternative is directional and to the right, we use a right-tailed test. For this, the critical value at 99% level is +2.32. +2.32 is the value above which only 1% of the probability mass of the standard normal distribution lies). The rejection region is then given by z-statistic > +2.32.
A cumulative frequency distribution on days absent during a calendar year by employees of a manufacturing company is shown below.Days AbsentCumulative ## of Employees0 - 2603 - 5316 - 8149 - 11612 - 142How many employees were absent between 6 and 11 days?
This is found by the difference between the 6-8 class and the 12-14 class. In this case: 14 - 2 = 12.
Which of the following is the formula for the correlation between X and Y?
The correlation between two random variables X and Y is Cov(X,Y)/[(sigma_X)*(sigma_Y)].
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