In Explaining the Amount of Money Spent on Children's Shoes

question 34

Multiple Choice

In explaining the amount of money spent on children's shoes each month,which of the following independent variables is best represented with an indicator variable?

• A)Gender
• B)Height
• C)Age
• D)Weight

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Definitions:

Regression Model

A statistical model that estimates the relationship between a dependent variable and one or more independent variables.

Individual Coefficient

A specific value that quantifies some type of relationship in mathematical or statistical models.

Standard Error

The standard deviation of the sample distribution of a statistic, often used to estimate the precision of sample means.

F-statistic

A ratio of variances that is used to test the overall significance of a multiple regression model; it compares model fit versus random variance.