Based on the Following Regression Output,what Conclusion Can You Reach

question 54

Multiple Choice

Based on the following regression output,what conclusion can you reach about β₁?

• A)β₁ = 0,with P-value = 0.016353
• B)β₁ ≠ 0,with P-value =0.016353
• C)β₁ = 0,with P-value = 0.000186
• D)β₁ ≠ 0,with P-value =0.000186

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Definitions:

Price Elasticity

A metric that quantifies the responsiveness of the demand for a product to changes in its price.

T-Shirt Manufacturer

A company or individual involved in the production of T-shirts, overseeing the process from fabric selection to the final product.

T-Shirts

A type of clothing characterized by short sleeves and a round neckline without a collar, typically made of cotton or a cotton blend fabric.

Price Elasticity

A measure indicating how much the quantity demanded or supplied of a good changes in response to a change in its price.