A Researcher Analyzes the Factors That May Influence Amusement Park

question 124

Multiple Choice

A researcher analyzes the factors that may influence amusement park attendance. She estimates the following model: Attendance = β₀ + β₁Price + β₂Temperature + β₃Rides + ε, where Attendance is the daily attendance (in 1,000s) , Price is the gate price (in $) , Temperature is the average daily temperature (in °F) , and Rides is the number of rides at the amusement park. A portion of the regression results is shown in the accompanying table. When testing whether the explanatory variables Temperature and Rides are jointly significant, the p-value associated with the test is 0.0000. At the 1% significance level, the researcher ________.

• A) rejects H₀, and concludes that at least one of the explanatory variables, Temperature and Rides, is significant in explaining Attendance
• B) does not reject H₀, and concludes that at least one of the explanatory variables, Temperature and Rides, is significant in explaining Attendance
• C) rejects H₀, and cannot conclude that at least one of the explanatory variables, Temperature and Rides, is significant in explaining Attendance
• D) does not reject H₀, and cannot conclude at least one of the explanatory variables, Temperature and Rides, is significant in explaining Attendance

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Definitions:

General Journal

A primary accounting record where financial transactions are initially recorded in chronological order.

Legal Fees Revenue

Income derived from fees charged for legal services provided.

General Journal

The general journal is a primary accounting record used to enter all transactions through debits and credits, serving as the initial point of data entry.

Accounts Receivable

Represents money owed to a company by its customers for goods or services that have been delivered but not yet paid for.