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Business Management > A-Level Question Paper > MGT6203 FINAL DRAFT 1 (All)

MGT6203 FINAL DRAFT 1

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FINAL EXAM QUESTIONS 2020 Theory - 20 questions Week 1 Questions Q1. If the explained sum of squares is 35 and the total sum of squares is 49, what is the residual sum of squares? A. 10 B. 14 ... C. 12 D. 18 Solution: B Explanation: Total Sum of Squares = Explained Sum of Squares + Residual Sum of Squares SST = SSE + SSR SSR = SST – SSE = 49 – 35 = 14 Week 2 Questions Q2. Consider a regression model predicting the amount someone has spent (on some arbitrary product) based on their salary and age. To improve the model we have created an interaction variable between Salary and Age. Assume salary given in dollars, and age in years. b0 = 500 b1 = 0.35 b2 = 0.12 b3=0.21 AmountSpent = b0 + b1Salary + b2Age + b3SalaryAge How much more will a 30-year old person with a salary of $20,000 spend than a person who is 2 years older and earns $5000 less than him/her? a)17500 b)33249.54 c)26949.76 d)26950.24 Solution: (c) Week2 Lesson 4 DifInAmountSpent = b1 * (Dif in Salary) + b2*(Dif in Age) + b3* (Dif in (Salary*Age)) DifInAmountSpent = 0.35*(5000) +0.12*(-2) + 0.21 * (120,000) = 26949.76 [Show More]

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