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

question 33

Multiple Choice

Regression analysis was applied between sales data (y in $1000s) and advertising data (x in $100s) and the following information was obtained. ​ = 12 + 1.8x
​
N = 17
SSR = 225
SSE = 75
Sb₁ = .2683
​
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:

Utility Function

A representation or model used in economics to quantify the satisfaction or happiness a consumer derives from consuming goods and services.

Income

Payment obtained, regularly, for services rendered or from capital investments.

Preferences

In economics, refers to the subjective tastes and desires of consumers that influence their choices and demands.

Demand

The desire coupled with the purchasing power for specific goods or services in a given economic marketplace.