A Multiple Regression Was Conducted to Predict the Price of Yachts

question 56

Multiple Choice

A multiple regression was conducted to predict the price of yachts in thousands of dollars.A dummy variable was included to indicate whether or not the yacht has a flying bridge,where 0 means "no" and 1 means "yes." Which of the following statements is correct using the 0.10 level of significance?

• A)Having a flying bridge significantly increases the price of a yacht by an average of $17.7,given the other variables present.
• B)Having a flying bridge significantly increases the price of a yacht by an average of $17,708,given the other variables present.
• C)We can tell that 17 out of 20 yachts have a flying bridge.
• D)Whether or not the yacht has a flying bridge does not significantly affect the price of a yacht,given the other variables present.

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Definitions:

Flowchart

A diagram that illustrates the sequence of operations to be performed to get to the solution of a particular problem.

Hierarchy

A system or organization in which people or groups are ranked one above the other according to status or authority.

Scheduling Activities

The process of planning, arranging, and organizing tasks or events over a specific time period.

Exploding

A rapid increase in volume or intensity, often used metaphorically to describe emotions or situations.