Use the Data Given Below to Answer the Following Question(s)

question 47

Multiple Choice

Use the data given below to answer the following question(s) .
Following is an extract from the database of a construction company.The table shows the height of walls in feet and the cost of raising them.The estimated simple linear regression equation is given as Ŷ = b0 + b1X.(Hint: Use Excel functions) .
$$\begin{array} { | r | r | } \hline \begin{array} { l } \text { Height } \\\text { (ft) }\end{array} & \text { Cost (\$) } \\\hline 4 & 670 \\\hline 3 & 430 \\\hline 7 & 810 \\\hline 9 & 1100 \\\hline 6 & 790 \\\hline 8 & 880 \\\hline 5 & 760 \\\hline 11 & 1200 \\\hline\end{array}$$
-For a simple linear regression model, significance of regression is:

• A)a measure of how well the regression line fits the data.
• B)a hypothesis test of whether the regression coefficient ß1 is zero.
• C)a statistic that modifies the value of R² by incorporating the sample size and the number of explanatory variables in the model.
• D)the variability of the observed Y-values from the predicted values.

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Definitions:

Higher-order Needs

Needs in Maslow's hierarchy that go beyond basic physiological and safety requirements, focusing on psychological and self-fulfillment desires.

Maslow's Needs Hierarchy

A theory in psychology proposed by Abraham Maslow, suggesting that individuals are motivated by a hierarchy of needs starting from the most basic physical needs to higher psychological needs.

Different Cultures

Variations in the social behaviors, practices, beliefs, and values among groups of people differentiated by ethnic, national, geographical, or social backgrounds.

Hygiene Factors

in workplace motivation theory, are elements that, if absent or inadequate, can cause job dissatisfaction, but their presence does not necessarily lead to high job satisfaction.