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SCENARIO 14-6
One of the Most Common Questions of Prospective β\beta

question 79

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SCENARIO 14-6
One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y) . To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X1 ) and the amount of insulation in inches ( X 2 ) . Given below is EXCEL output of the regression model.
SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y) . To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X<sub>1</sub> ) and the amount of insulation in inches ( X <sub>2</sub> ) . Given below is EXCEL output of the regression model. Also SSR (X<sub>1</sub> | X<sub>2</sub>) = 8343.3572 and SSR (X<sub>2</sub> | X<sub>1</sub>) = 4199.2672 -Referring to Scenario 14-6 and allowing for a 1% probability of committing a type I error,what is the decision and conclusion for the test H<sub>0 </sub>: \beta <sub>1 </sub>=0 \beta <sub>2 </sub>= 0 vs. H<sub>1 </sub>: At least one \beta <sub>j </sub> \neq 0,j = 1,2 <sup>?</sup> A) Do not reject H<sub>0</sub> and conclude that the 2 independent variables taken as a group have significant linear effects on heating costs. B) Do not reject H<sub>0</sub> and conclude that the 2 independent variables taken as a group do not have significant linear effects on heating costs. C) Reject H<sub>0</sub> and conclude that the 2 independent variables taken as a group have significant linear effects on heating costs. D) Reject H<sub>0</sub> and conclude that the 2 independent variables taken as a group do not have significant linear effects on heating costs.
SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y) . To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X<sub>1</sub> ) and the amount of insulation in inches ( X <sub>2</sub> ) . Given below is EXCEL output of the regression model. Also SSR (X<sub>1</sub> | X<sub>2</sub>) = 8343.3572 and SSR (X<sub>2</sub> | X<sub>1</sub>) = 4199.2672 -Referring to Scenario 14-6 and allowing for a 1% probability of committing a type I error,what is the decision and conclusion for the test H<sub>0 </sub>: \beta <sub>1 </sub>=0 \beta <sub>2 </sub>= 0 vs. H<sub>1 </sub>: At least one \beta <sub>j </sub> \neq 0,j = 1,2 <sup>?</sup> A) Do not reject H<sub>0</sub> and conclude that the 2 independent variables taken as a group have significant linear effects on heating costs. B) Do not reject H<sub>0</sub> and conclude that the 2 independent variables taken as a group do not have significant linear effects on heating costs. C) Reject H<sub>0</sub> and conclude that the 2 independent variables taken as a group have significant linear effects on heating costs. D) Reject H<sub>0</sub> and conclude that the 2 independent variables taken as a group do not have significant linear effects on heating costs.
SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y) . To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X<sub>1</sub> ) and the amount of insulation in inches ( X <sub>2</sub> ) . Given below is EXCEL output of the regression model. Also SSR (X<sub>1</sub> | X<sub>2</sub>) = 8343.3572 and SSR (X<sub>2</sub> | X<sub>1</sub>) = 4199.2672 -Referring to Scenario 14-6 and allowing for a 1% probability of committing a type I error,what is the decision and conclusion for the test H<sub>0 </sub>: \beta <sub>1 </sub>=0 \beta <sub>2 </sub>= 0 vs. H<sub>1 </sub>: At least one \beta <sub>j </sub> \neq 0,j = 1,2 <sup>?</sup> A) Do not reject H<sub>0</sub> and conclude that the 2 independent variables taken as a group have significant linear effects on heating costs. B) Do not reject H<sub>0</sub> and conclude that the 2 independent variables taken as a group do not have significant linear effects on heating costs. C) Reject H<sub>0</sub> and conclude that the 2 independent variables taken as a group have significant linear effects on heating costs. D) Reject H<sub>0</sub> and conclude that the 2 independent variables taken as a group do not have significant linear effects on heating costs.
Also SSR (X1 | X2) = 8343.3572 and SSR (X2 | X1) = 4199.2672
-Referring to Scenario 14-6 and allowing for a 1% probability of committing a type I error,what is the decision and conclusion for the test
H0 : β\beta 1 =0 β\beta 2 = 0 vs. H1 : At least one β\beta j ≠\neq 0,j = 1,2 ?

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Definitions:

Resilience

The capacity to recover quickly from difficulties or to adapt in the face of adversity or stress.

Internal Boundaries

Psychological distinctions made by individuals to manage their thoughts and feelings.

Family System

A concept in psychology and sociology that views the family as a complex set of interactions and relationships, influencing and being influenced by each member.

Expected Behavior

The actions or reactions anticipated from an individual in a particular context or situation.

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