A Local Parent Group Was Concerned with the Increasing School

question 51

Multiple Choice

A local parent group was concerned with the increasing school cost for families with school aged children.The parent group was interested in understanding the relationship between the
The academic grade level for the child and the total costs spent per child per academic year.They
Performed a multiple regression analysis using total cost as the dependent variable and academic
Year (x₁) as the independent variables.The multiple regression analysis produced the following
Tables.
The regression equation for this analysis is ____________.

• A)y = 707.9144 + 2.903307 x1 + 11.91297 x12
• B)y = 707.9144 + 435.1183 x1 + 1.626947 x12
• C)y = 435.1183 + 81.62802 x1 + 3.806211 x12
• D)y = 1.626947 + 0.035568 x1 + 3.129878 x12
• E)y = 1.626947 + 0.035568 x1 - 3.129878 x12

---

Definitions:

Edgeworth Box

A diagram used in microeconomics to show the distribution of resources or the outcome of trade between two parties.

Utility Function

An economic tool that describes how consumers rank different bundles of goods according to the level of satisfaction or utility those bundles provide.

Endowed

Provided with a large amount of a particular resource or quality.

Contract Curve

In economics, it represents the set of optimal points of exchange between two parties, where no further mutual benefit can be achieved through trade.