TABLE 12-9 It Is Believed That, the Average Numbers of Hours Spent

question 33

Multiple Choice

TABLE 12-9
It is believed that, the average numbers of hours spent studying per day (HOURS) during undergraduate education should have a positive linear relationship with the starting salary (SALARY, measured in thousands of dollars per month) after graduation. Given below is the Microsoft Excel output for predicting starting salary (Y) using number of hours spent studying per day (X) for a sample of 51 students. NOTE: Only partial output is shown.

Note: 2.051E-05 = 2.051 * 10-0.5 and 5.944E-18 = 5.944 * 10-18.
-Referring to Table 12-9, the error sum of squares (SSE) of the above regression is ________.

• A) 1.878215
• B) 92.0325465
• C) 335.047257
• D) 427.079804

Recognize the role of collusive behaviors like bid-rigging and how they impact auction outcomes.

Understand the concept and outcomes of sealed-bid versus open auctions.

Calculate expected values and infer bidder valuations from auction outcomes.

Distinguish between the strategic approaches to bidding in first-price and second-price auctions.

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