TABLE 14-9 You Decide to Predict Gasoline Prices in Different Cities and Cities

question 280

Multiple Choice

TABLE 14-9
You decide to predict gasoline prices in different cities and towns in the United States for your term project. Your dependent variable is price of gasoline per gallon and your explanatory variables are per capita income, the number of firms that manufacture automobile parts in and around the city, the number of new business starts in the last year, population density of the city, percentage of local taxes on gasoline, and the number of people using public transportation. You collected data of 32 cities and obtained a regression sum of squares SSR = 122.8821. Your computed value of standard error of the estimate is 1.9549.
-Referring to Table 14-9, what is the value of the coefficient of multiple determination?

• A) 0.2225
• B) 0.4576
• C) 0.5626
• D) 0.6472

---

Definitions:

Human Resources

A department within an organization focused on the management, support, and development of the organization's workforce, including hiring, training, benefits, and employee relations.

Task Accomplishment

The successful completion or achievement of assigned tasks or objectives.

First Step

The initial action or decision that begins the process of pursuing a goal or solving a problem.

Allocation

Involves the distribution of resources or tasks among various departments, projects, or individuals based on priorities and strategic goals.