The Intercept in the Multiple Regression Model

question 61

Multiple Choice

The intercept in the multiple regression model

• A)should be excluded if one explanatory variable has negative values.
• B)determines the height of the regression line.
• C)should be excluded because the population regression function does not go through the origin.
• D)is statistically significant if it is larger than 1.96.

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Definitions:

Life Expectancy

The average number of years an individual or group is expected to live, often used as a statistical measure of health and well-being in a population.

Input Markets

Markets where firms buy resources, services, and goods they need to produce their own products or provide services.

Substitute Good

A product or service that serves as an alternative to another, where an increase in the price of one leads to an increase in demand for the other.

Union Wages

Wages that are negotiated by labor unions on behalf of their members, often resulting in higher pay and better benefits than non-union wages.