Instruction 13-3
an Economist Is Interested to See How Consumption

question 86

Multiple Choice

Instruction 13-3
An economist is interested to see how consumption for an economy (in $ billions) is influenced by gross domestic product ($ billions) and aggregate price (consumer price index) .The Microsoft Excel output of this regression is partially reproduced below.
SUMMARY
Regression Statistics
$\begin{array} { l l } \text { Multiple R } & 0.991 \\ \text { R Square } & 0.982 \\ \text { Adj. R Square } & 0.976 \\ \text { Std. Error } & 0.299 \\ \text { Observations } & 10 \end{array}$
ANOVA
$\begin{array} { l l l l l l } & \boldsymbol { d f } & \text { SS } & \text { MS } & \boldsymbol { F } & \text { Signiff } \\ \text { Regression } & 2 & 33.4163 & 16.7082 & 186.325 & 0.0001 \\ \text { Residual } & 7 & 0.6277 & 0.0897 & & \\ \text { Total } & 9 & 34.0440 & & & \\ & & & & & \\ & \text { Coeff } & \text { StaError } & \boldsymbol { t } \text { Stat } & \boldsymbol { P } \text {-Value } & \\ \text { Intercept } & - 1.6335 & 0.5674 & - 0.152 & 0.8837 & \\ \text { GDP } & 0.7654 & 0.0574 & 13.340 & 0.0001 & \\ \text { Price } & - 0.0006 & 0.0028 & - 0.219 & 0.8330 & \end{array}$ Note: Adj.R Square = Adjusted R Square;Std.Error = Standard Error
-Referring to Instruction 13-3,to test for the significance of the coefficient on gross domestic product,the p-value is

• A)0.0001.
• B)0.9999.
• C)0.8330.
• D)0.8837.

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Definitions:

Silicon Tetrahedron

A fundamental structural unit in silicate minerals, consisting of four oxygen atoms symmetrically arranged around a central silicon atom.

Cleavage

The tendency of a mineral to break along flat, smooth surfaces, which is related to the mineral’s crystal structure.

Silicate Minerals

Minerals that contain silicon and oxygen, and usually one or more additional elements, making up the largest and most important class of rock-forming minerals.

Silicon

A chemical element with the symbol Si and atomic number 14, known for its semiconductor properties and widely used in electronics and computer chips.