The Editors of a National Automotive Magazine Recently Studied 30

question 93

Multiple Choice

The editors of a national automotive magazine recently studied 30 different automobiles sold in the United States with the intent of seeing whether they could develop a multiple regression model to explain the variation in highway miles per gallon. A number of different independent variables were collected. Included in these were two variables described as follows: If these two variables are to be included in a regression model, how many additional variables will be needed?

• A) The model explains nearly 63 percent of the variation in the dependent variable.
• B) If tested at the 0.05 significance level, the overall model would be considered statistically significant.
• C) The variable X1 has a slope coefficient that is significantly different from zero if tested at the 0.05 level of significance.
• D) All of the above are true.

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Definitions:

Career Plans

A detailed layout of steps and goals designed to enhance an individual's career progression and success.

Developing Opportunities

The process of identifying, creating, or discovering new prospects or areas for growth and improvement in a personal, professional, or organizational context.

Planning Time Horizons

The periods over which organizations or individuals plan their activities and objectives, typically categorized as short, medium, or long term.

Short-Range Plans

Strategies and actions that are intended to achieve goals within a relatively brief period, typically up to one year.