THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 18

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A market researcher is interested in the average amount of money spent per year by college students on clothing.From 25 years of annual data,the following estimated regression was obtained through least squares:
y_t = 48.75 +
+
+
where the numbers in parentheses below the coefficients are the coefficient standard errors,and
y = Expenditure per student,in dollars,on clothes
x₁ = Disposable income per student,in dollars,after the payment of tuition,fees,and room and board.
x₂ = Index of advertising,aimed at the student market,on clothes
-Test at the 5% level,against the obvious one-sided alternative,the null hypothesis that,all else being equal,advertising does not affect expenditures on clothes in this market.

---

Definitions:

Blood Sugar

The concentration of glucose present in the blood, essential for energy production but problematic when levels are too high or too low.

Vomiting

The forceful expulsion of stomach contents through the mouth, a protective mechanism to remove harmful substances from the body.

Sodium Chloride

A chemical compound, also known as table salt, used mainly in the food industry as a flavor enhancer and preservative, as well as in medical treatments.

Fluid Therapy

The medical practice of replenishing bodily fluids and electrolytes via oral or intravenous route to treat dehydration or electrolyte imbalances.