Use the Following Information to Answer the Question

question 54

Multiple Choice

Use the following information to answer the question. Below is the scatterplot showing the association between raw material (in tons) put into an injection molding machine each day (x) , and the amount of scrap plastic (in tons) that is collected from the machine every 4 weeks (y) . The residual plot of the data is also shown along with a QQ plot of the residuals.

-Choose the statement that is true about the estimators for slope and intercept of a regression line when the conditions of the linear model hold.

• A)The sampling distributions of the estimators follow the chi- square model.
• B)The standard errors for the estimators must come from a population that is Normally distributed.
• C)The estimators for the slope and intercept of a regression line are unbiased.
• D)None of these

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Definitions:

Leisure Time

Free time that an individual can spend as they wish aside from their employment obligations or essential activities.

GDP Deflator

A parameter representing the price level of all new, home-grown, final goods and services in a nation's economy.

Real GDP

Real GDP, factoring in inflation to more accurately reflect the true scale of an economy and its development over periods.

GDP

GDP, an indicator of a nation's economic health, is the overall value of all products and services produced within a country during a given timeframe.