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THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

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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:
yt = 48.75 + 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<sub>t</sub> = 48.75 +    +    +    where the numbers in parentheses below the coefficients are the coefficient standard errors,and y = Expenditure per student,in dollars,on clothes x<sub>1</sub> = Disposable income per student,in dollars,after the payment of tuition,fees,and room and board. x<sub>2</sub> = 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.
+ 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<sub>t</sub> = 48.75 +    +    +    where the numbers in parentheses below the coefficients are the coefficient standard errors,and y = Expenditure per student,in dollars,on clothes x<sub>1</sub> = Disposable income per student,in dollars,after the payment of tuition,fees,and room and board. x<sub>2</sub> = 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.
+ 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<sub>t</sub> = 48.75 +    +    +    where the numbers in parentheses below the coefficients are the coefficient standard errors,and y = Expenditure per student,in dollars,on clothes x<sub>1</sub> = Disposable income per student,in dollars,after the payment of tuition,fees,and room and board. x<sub>2</sub> = 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.
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.

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Definitions:

Conditional Endorsement

An endorsement whereby payment can be made only on the fulfillment of a predecided condition, such as painting one’s house.

Negotiability

The ability of a document or instrument to be legally and freely transferred from one party to another.

Instrument Dishonored

A legal term for when a negotiable instrument (like a check or promissory note) is not honored or paid upon presentation.

Insufficient Funds

A situation where an account does not have enough money to cover transactions, leading to declined payments or penalties.

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