Exhibit 15-5
Below You Are Given a Partial Minitab Output $\beta$

question 92

Multiple Choice

Exhibit 15-5
Below you are given a partial Minitab output based on a sample of 25 observations.
-Refer to Exhibit 15-5. We want to test whether the parameter $\beta$ ₁ is significant. The test statistic equals

• A)0.357
• B)2.8
• C)14
• D)1.96

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Definitions:

GDP Deflator

A gauge for assessing the price rates of all new, locally manufactured, end goods and services in a country, applied to recalibrate nominal GDP to real GDP.

Real GDP

The measure of a country's economic output adjusted for price changes (inflation or deflation), providing a more accurate reflection of an economy's size and how it’s growing over time.

GDP Deflator

A measure of the level of prices of all new, domestically produced, final goods and services in an economy, used to convert nominal GDP into real GDP.

Deflation

A decrease in the general price level of goods and services, often indicating reduced consumer demand or excess supply.