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

question 341

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 alternative hypothesis to determine whether there is a significant relationship between total milk production and the entire
Set of explanatory variables? a) $H _ { 1 } :$ All $\beta _ { j } \neq 0$ for $j = 0,1,2,3$
b) $H _ { 1 } :$ All $\beta _ { j } \neq 0$ for $j = 1,2,3$
c) $H _ { 1 } :$ At least one of $\beta _ { j } \neq 0$ for $j = 0,1,2,3$
d) $H _ { 1 } :$ At least one of $\beta _ { j } \neq 0$ for $j = 1,2,3$

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Definitions:

Fees Earned

Income earned from providing services, recorded as revenue in the income statement.

Correcting Entry

An entry made in accounting records to correct a previous error or adjust for discrepancies.

Journal Entry

A record in accounting that logs a transaction and shows the affected accounts in the form of debits and credits.

Debits

Accounting entries that increase assets or expenses and decrease liabilities, equity, or revenue, recorded on the left side of accounting ledgers.