Needing a Simple Cost Estimator for Commercial Construction Costs in the City

question 100

Multiple Choice

Needing a simple cost estimator for commercial construction costs in the city, you hope to find a useful linear relationship between cost (y) and floor space (x) .You have data from a sample of four recently completed building projects: The estimated regression equation turns out to be y = 24 + 1.6x and s_b= 1.13.Construct an appropriate hypothesis test to determine whether we can use the sample data here to reject a β = 0 null hypothesis at the 5% significance level.Report your conclusion.

• A)Since t_stat is outside the critical values of ±3.182, we can reject the β=0 null hypothesis.
• B)Since t_stat is outside the critical values of ±4.362, we can reject the β=0 null hypothesis.
• C)Since t_stat is not outside the critical values of ±4.303, we can't reject the β=0 null hypothesis.
• D)Since t_stat is not outside the critical values of ±2.182, we can't reject the β=0 null hypothesis.

---

Definitions:

Marketing

The activities, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

SRM

Supplier Relationship Management (SRM) is the systematic, strategic coordination of business processes between an organization and its suppliers to optimize the value delivered through the supply chain.

Supplier Evaluation

The process of assessing and approving potential suppliers by quantitative and qualitative assessment.

Order Management

The process of tracking and fulfilling sales orders, from the initial order placement to delivery to the customer.