To Explain Personal Consumption (CONS)measured in Dollars,data Is Collected for

question 95

Multiple Choice

To explain personal consumption (CONS) measured in dollars,data is collected for
A regression analysis was performed with CONS as the dependent variable and CRDTLIM,APR,ADVT,and SEX as the independent variables.The estimated model was
? = 2.28 - 0.29 CRDTLIM - 5.77 APR + 2.35 ADVT + 0.39 SEX
What is the correct interpretation for the estimated coefficient for SEX?

• A)Holding the effect of the other independent variables constant,mean personal consumption for females is estimated to be $0.39 higher than males.
• B)Holding the effect of the other independent variables constant,mean personal consumption for males is estimated to be $0.39 higher than females.
• C)Holding the effect of the other independent variables constant,mean personal consumption for females is estimated to be 0.39% higher than males.
• D)Holding the effect of the other independent variables constant,mean personal consumption for males is estimated to be 0.39% higher than females.

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Definitions:

Maximin Criterion

A decision rule used in statistics, economics, and game theory that selects the action which has the highest minimum payoff.

States of Nature

Possible outcomes or situations in decision-making under uncertainty that affect the results of different decisions but are beyond the control of the decision-maker.

Manufacturing Alternatives

Different methods or approaches available for the production of goods, considering factors like cost, technology, and resource availability.

Decision Tables

A tabular method for representing and analyzing logical relationships among variables and their possible outcomes.