TABLE 14-4 A Real Estate Builder Wishes to Determine How House Size

question 189

Multiple Choice

TABLE 14-4
A real estate builder wishes to determine how house size (House) is influenced by family income (Income) and family size (Size) .House size is measured in hundreds of square feet and income is measured in thousands of dollars.The builder randomly selected 50 families and ran the multiple regression.Partial Microsoft Excel output is provided below: Also SSR (X₁ ∣ X₂) = 36400.6326 and SSR (X₂ ∣ X₁) = 3297.7917
-Referring to Table 14-4,which of the following values for the level of significance is the smallest for which at most one explanatory variable is significant individually?

• A)0.001
• B)0.010
• C)0.025
• D)0.050

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Definitions:

Eisenhower Doctrine

A Cold War policy proclaimed by President Dwight D. Eisenhower in 1957, promising military or economic aid to any Middle Eastern country needing help in resisting communist aggression.

Thurgood Marshall

The first African American Supreme Court Justice, instrumental in the civil rights movement and the landmark case Brown v. Board of Education.

Automobile

An automobile that operates on wheels, commonly driven by an internal combustion engine or an electric motor, designed primarily for moving people or goods.

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An economic system in which prices and the distribution of goods and services are determined by open competition in a free market, typically with minimal government intervention.