Angela Chou has been asked to investigate the determinants of poverty in Ontario communities. She collected data on 60 communities from Statistics Canada. She selected the percentage of poor persons living under the poverty line [Poor (%) ], measured by Low Income Cut-Off, and designed by Statistics Canada as a measure of poverty for a community, as the dependent variable. The independent variables selected are percent of single families in each community, the unemployment rate in each community, percent of population in the community holding a bachelor's degree as their highest level of education attained, and percent of population holding a High School Diploma as their highest level of education attained. Using the output below, determine which variable Angela should consider deleting. ![Angela Chou has been asked to investigate the determinants of poverty in Ontario communities. She collected data on 60 communities from Statistics Canada. She selected the percentage of poor persons living under the poverty line [Poor (%) ], measured by Low Income Cut-Off, and designed by Statistics Canada as a measure of poverty for a community, as the dependent variable. The independent variables selected are percent of single families in each community, the unemployment rate in each community, percent of population in the community holding a bachelor's degree as their highest level of education attained, and percent of population holding a High School Diploma as their highest level of education attained. Using the output below, determine which variable Angela should consider deleting. A) It doesn't matter which she uses, the results are virtually the same in any case. B) Angela should delete the high school information, because the P-value is over 0.05. C) Angela should delete the bachelor'sdegree information, because the P-value is close to 0.05. D) Angela should delete the unemployment rate information because the P-value is 0.00. E) Angela should exclude the single-family and unemployment information because the P-value values are 0.](https://d2lvgg3v3hfg70.cloudfront.net/TB6660/11eaa8f3_4013_ccfd_96ab_4fe8d5dcb550_TB6660_00.jpg)
![Angela Chou has been asked to investigate the determinants of poverty in Ontario communities. She collected data on 60 communities from Statistics Canada. She selected the percentage of poor persons living under the poverty line [Poor (%) ], measured by Low Income Cut-Off, and designed by Statistics Canada as a measure of poverty for a community, as the dependent variable. The independent variables selected are percent of single families in each community, the unemployment rate in each community, percent of population in the community holding a bachelor's degree as their highest level of education attained, and percent of population holding a High School Diploma as their highest level of education attained. Using the output below, determine which variable Angela should consider deleting. A) It doesn't matter which she uses, the results are virtually the same in any case. B) Angela should delete the high school information, because the P-value is over 0.05. C) Angela should delete the bachelor'sdegree information, because the P-value is close to 0.05. D) Angela should delete the unemployment rate information because the P-value is 0.00. E) Angela should exclude the single-family and unemployment information because the P-value values are 0.](https://d2lvgg3v3hfg70.cloudfront.net/TB6660/11eaa8f3_4013_ccfe_96ab_0fcc01ad8e10_TB6660_00.jpg)
Definitions:
Monopoly Power
The ability of a single supplier in a market to control the price and supply of a product or service, often resulting in higher prices and limited choices for consumers.
Production Costs
Expenses incurred in the process of manufacturing or producing goods and services, including labor, materials, and overhead.
Economic Profits
The surplus remaining after deducting both the explicit and implicit costs from total revenues, often showcasing the true profitability of a firm beyond accounting profits.
Uninsurable Risks
Represent risks that insurance companies are not willing to cover due to their unpredictable nature or high likelihood of loss.
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