Regression Analysis Was Applied Between Sales Data (Y in $1000s)

question 58

Multiple Choice

Regression analysis was applied between sales data (y in $1000s) and advertising data (x in $100s) and the following information was obtained. $$\begin{array} { l } \widehat { y } = 12 + 1.8 x \\n = 17 \\\mathrm { SSR } = 225 \\\mathrm { SSE } = 75 \\\mathrm {~s} b _ { 1 } = .2683\end{array}$$
To perform an F test, the p-value is

• A) less than .01.
• B) between .01 and .025.
• C) between .025 and .05.
• D) greater than .10.

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Definitions:

Commercial Transactions

The exchange of goods, services, or funds in a business context, often governed by legal regulations and agreements.

Strictly Applied

Refers to the rigorous enforcement or adherence to rules, laws, or principles without deviation or exception.

Consideration

Consideration refers to something of value that is exchanged between parties in a contract, making the agreement legally binding.

Gross Inadequacy

A significant disparity or insufficiency, often relating to an offer’s value in a contractual agreement, which may lead to questioning the fairness of the contract.