A Multiple Regression Analysis Produced the Following Output from Minitab

question 5

Multiple Choice

A multiple regression analysis produced the following output from Minitab. Regression Analysis: Y versus x₁ and x₂
S = 0.179449 R-Sq = 89.0% R-Sq(adj) = 87.8%
Analysis of Variance
These results indicate that ____________.

• A) none of the predictor variables are significant at the 5% level
• B) each predictor variable is significant at the 5% level
• C) x₁ is the only predictor variable significant at the 5% level
• D) x₂ is the only predictor variable significant at the 5% level
• E) at least one of the variable is significant at 5% level

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Definitions:

Elasticity of Demand

This indicates the responsiveness of the quantity demanded of a good to a change in its price; it's another way to describe how variation in price affects consumer demand.

Supply of Computers

The total quantity of computers that producers are willing and able to sell at a given price level.

Ratio of Labor Cost

A financial metric that measures the total labor costs in relation to another metric, often used to assess efficiency or productivity.

Least-Costly Combination

An economic principle that describes the mix of factors of production (like labor and capital) that minimizes cost for a certain level of output.