Exhibit 15-2 A Regression Model Between Sales (Y in $1,000), Unit Price

question 52

Multiple Choice

Exhibit 15-2
A regression model between sales (Y in $1,000) , unit price (X₁ in dollars) and television advertisement (X₂ in dollars) resulted in the following function: For this model SSR = 3500, SSE = 1500, and the sample size is 18.
-Refer to Exhibit 15-2. To test for the significance of the model, the p-value is

• A)less than 0.01
• B)between 0.01 and 0.025
• C)between 0.025 and 0.05
• D)between 0.05 and 0.10

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Definitions:

Bootstrapping Process

A statistical resampling method used to approximate the distribution of a statistic by repeatedly sampling with replacement from the observed data.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, represented by the square root of the variance.

Sampling Distribution

A statistical distribution of all possible sample means or proportions, given a sample size, from a population.

Bootstrap Distribution

A statistical technique for estimating a sampling distribution by repeatedly resampling with replacement from an existing sample data.