A Multiple Regression Is Shown for a Data Set of Yachts

question 132

Multiple Choice

A multiple regression is shown for a data set of yachts where the dependent variable is the price in thousands of dollars. Given this information,which is correct regarding the test of the overall model using the 0.10 level of significance?

• A)The overall model does not have significant ability to predict the price of a yacht because p = .163 is greater than 0.10.
• B)The overall model has significant ability to predict the price of a yacht because p = 0.163 is greater than 0.10.
• C)The overall model does not have significant ability to predict the price of a yacht because p = .001 is less than 0.10.
• D)The overall model has significant ability to predict the price of a yacht because p = .001 is less than 0.10.

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Definitions:

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A popular dish of Italian origin, consisting of a flat round base of dough baked with a topping of tomato sauce and cheese, often with added meats, vegetables, or other ingredients.

Soda Pop

A carbonated soft drink available in various flavors, often sweetened and served chilled.

Utility-Maximizing

A principle in economics where consumers allocate their income to purchase goods and services that provide the highest satisfaction or utility.

Staples

Basic or essential food items and products that are consumed regularly and necessary for daily living.