Assume You Ran a Multiple Regression to Gain a Better

question 80

Multiple Choice

Assume you ran a multiple regression to gain a better understanding of the relationship between lumber sales, housing starts, and commercial construction. The regression uses lumber sales (in $100,000s) as the response variable with housing starts (in 1,000s) and commercial construction (in 1,000s) as the explanatory variables. The estimated model is Lumber Sales = β₀ + β₁Housing Starts + β₂Commercial Constructions + ε. The following ANOVA table summarizes a portion of the regression results. The sample regression equation explains approximately ________% of the variation in the response Lumber Sales.

• A) 18
• B) 22
• C) 78
• D) 82

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