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The manager of a commuter rail transportation system is asked by his governing board to predict the demand for rides in the large city served by the transportation network. The system manager has collected data on variables thought to be related to the number of weekly riders on the city's rail system. The table shown below contains these data. The variables "weekly riders" and "population" are measured in thousands, and the variables "price per ride", "income", and "parking rate" are measured in dollars.
-(A) Estimate a multiple regression model using all of the available explanatory variables.
(B) Conduct and interpret the result of an F- test on the given model. Employ a 5% level of significance in conducting this statistical hypothesis test.
(C) Is there evidence of autocorrelated residuals in this model? Explain why or why not.
Food Foragers
Individuals or groups who subsist by hunting, fishing, and gathering wild plants and animals, rather than farming.
Jared Diamond
An American scientist and author known for his work on geography, biology, and the factors that contribute to societal collapse and success.
Wild Plants
Plants that grow in their natural environment without human intervention.
Arrested Growth
A halt or significant slowdown in the development or expansion of something, often due to external factors.
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