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Regression Quiz

Regression Quiz

Home Regression Quiz

Regression Quiz

The Operations Research Society (INFORMS) recognizes this course as supporting its Certified Analytics Professional (CAP) program. This 3 question quick quiz on regression is followed by a link to a full practice test for the CAP.

Step 1 of 4

25%
You are an analyst for a chain restaurant company, and would like to build a regression model for predicting profit at new restaurant locations. The predictor variables are: Cov = number of covers or customers served (in thousands), Fco = food costs (in thousands of dollars), Oco = overhead costs (in thousands of dollars), Lco = labor costs (in thousands of dollars), Region = geographical location (Mountain, Southwest, or Northwest). What is the most appropriate treatment of the "Region" variable?
A multiple linear regression was built to try to predict customer expenditures based on 200 independent variables (behavioral and demographic). 10,000 rows of data were fed into a stepwise regression, each row representing one customer. 1,000 customers were male, and 9,000 customers were female. The final model had an adjusted R-squared of 0.27 and seven independent variables. Increasing the number of rows of data to 100,000 and rerunning the stepwise regression will most likely:
A regression model is built to predict how long a web visitor will spend at a site, based on visitor characteristics and the initial two pages viewed. This information will be used dynamically to show the visitor a different web experience, depending on the prediction. If you had to choose one of the following measures to evaluate the model, what would it be?

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