SCENARIO 14-20-A
You Are the CEO of a Dairy Company $\left( X _ { 1 } \right)$

question 251

Short Answer

SCENARIO 14-20-A
You are the CEO of a dairy company. You are planning to expand milk production by purchasing
additional cows, lands and hiring more workers. From the existing 50 farms owned by the company,
you have collected data on total milk production (in liters), the number of milking cows, land size (in
acres) and the number of laborers. The data are shown below and also available in the Excel file
Scenario14-20-DataA.XLSX.
S
You believe that the number of milking cows $\left( X _ { 1 } \right)$ , land size $\left( X _ { 2 } \right)$ and the number of laborers $\left( X _ { 3 } \right)$ are the best predictors for total milk production on any given farm.
-Referring to Scenario 14-20-A, which of the following is the correct null hypothesis to determine whether there is a significant relationship between total milk production and the entire
Set of explanatory variables? a) $H _ { 0 } : \beta _ { 0 } = \beta _ { 1 } = \beta _ { 2 } = 0$
b) $H _ { 0 } : \beta _ { 1 } = \beta _ { 2 } = \beta _ { 3 } = 0$
c) $H _ { 0 } : \beta _ { 0 } = \beta _ { 1 } = \beta _ { 2 } = \beta _ { 3 } = 0$
d) None of the above.

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