TABLE 17-1 A Real Estate Builder Wishes to Determine How House Size

question 287

Multiple Choice

TABLE 17-1
A real estate builder wishes to determine how house size (House) is influenced by family income (Income) ,family size (Size) ,and education of the head of household (School) .House size is measured in hundreds of square feet,income is measured in thousands of dollars,and education is in years.The builder randomly selected 50 families and ran the multiple regression.Microsoft Excel output is provided below:
-Referring to Table 17-1,which of the following values for the level of significance is the smallest for which at least two explanatory variables are significant individually?

• A)0.01
• B)0.025
• C)0.05
• D)0.15

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Definitions:

Modernization Theory

A theory suggesting that societal development occurs through a series of progressive stages, typically moving from traditional to modern industrial societies.

Traditional Society

A society that is largely based on customs, traditions, and pre-modern economic activities such as agriculture.

Modern Society

A societal phase marked by advanced technology, industrialization, rationality, and complex social structures, differentiating it from earlier societies.

Cultural Diversity

The existence of a variety of cultural or ethnic groups within a society, celebrated for enriching the social fabric.